comex increases margins for GC

SethArb · Feb 6, 2003

by 50 % .....

NEW YORK, NY, February 5, 2003 â Margins on the New York Mercantile Exchange, Inc., COMEX Division gold futures contracts will be increased at the close of business tomorrow.

Gold futures margins will be increased to $1,500 from $1,000 for members, member firms, and hedgers, and to $2,025 from $1,350 for speculative customers.

Babak · Feb 6, 2003

<-- gold shorts

corvus · Feb 6, 2003

I suppose this means they are expecting a great deal of volatility in gold futures?

laziz314159 · Feb 6, 2003

Quote from corvus:

I suppose this means they are expecting a great deal of volatility in gold futures?

The enormous spec position (245k contracts) is mostly small and overleveraged. This change gives the institutional shorts a chance to cover.

Don't even ask why GC only trades until 13:30..

hardrock375 · Feb 6, 2003

This sounds like a bomb droppin' on Beaver Cleaverville...

OPTIONAL777 · Feb 6, 2003

check out the bollinger band action in gold.....

$330/350 here we come....

hardrock375 · Feb 6, 2003

Quote from OPTIONAL777:

check out the bollinger band action in gold.....
$330/350 here we come....

Let's hope so. I am short NEM Mar 35 Calls from yesterday.

Kicking · Feb 7, 2003

Dont think so, should consolidate at the middle band so that's 360-365 at least for a while then maybe fall to the lower band which in the mean time will have moved up.

Babak · Feb 8, 2003

Quote from corvus:

I suppose this means they are expecting a great deal of volatility in gold futures?

no, it means the big boys (JPM) want to push it down. when was the last time nymex upped the limit for ANY commodity?

Babak · Feb 16, 2003

http://www.fallstreet.com/feb1403.php