An increase in margin to buy or sell a gold or silver futures contract by the CME increases 30% on 11/9/10 causes the metals to sell off, but yesterday's 50% increase caused the metals to increase in price. Looks like the shorts were forced to cover this time at much higher prices.
The backwardation in silver continues. http://www.cmegroup.com/trading/metals/precious/silver.html
Feb 2010 $32.298
Dec 2015 $31.568
People want the physical delivery now and are willing to pay a premium. Anything still think $50 this year is still a pipedream? Posts: Jan 23, 2011
Nov 8, 2010
Saturday, February 19, 2011
Gold Silver Margin Increases
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