About the 41st minute into the video, Kyle talks about his gold holdings. Pay close attention to what he says about the attitude of the warehouse managers and how much paper they hold compared to the actual physical. BK
YOUTUBE LINK:
http://www.youtube.com/watch?v=5V3kpKzd-Yw
Showing posts with label COMEX Gold. Show all posts
Showing posts with label COMEX Gold. Show all posts
Monday, December 5, 2011
Friday, August 26, 2011
Gold Margin Raised 27% on COMEX
Bloomberg
By Debarati Roy and Pham-Duy Nguyen - Aug 24, 2011 6:32 PM ET
CME Group Inc. raised the margin requirements on gold trading at its Comex unit for the second time this month, after prices surged to a record above $1,900 an ounce and then plunged today by the most since March 2008.
The minimum cash deposit for borrowing from brokers to trade gold futures will rise 27 percent to $9,450 per 100-ounce contract in the speculative Tier 1 category at the close of trading tomorrow, Chicago-based CME said in a statement. On Aug. 11, the increase by the exchange was 22 percent to $7,425. The cost of one contract after today’s close was $175,730. The maintenance margin will rise to $7,000 from $5,500. LINK...
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Why bother with margin in this volatility? Just buy the physical metal fully paid for and aviod the stress. Eventually if they keep raising margins we will have a strictly physical market. BK
By Debarati Roy and Pham-Duy Nguyen - Aug 24, 2011 6:32 PM ET
CME Group Inc. raised the margin requirements on gold trading at its Comex unit for the second time this month, after prices surged to a record above $1,900 an ounce and then plunged today by the most since March 2008.
The minimum cash deposit for borrowing from brokers to trade gold futures will rise 27 percent to $9,450 per 100-ounce contract in the speculative Tier 1 category at the close of trading tomorrow, Chicago-based CME said in a statement. On Aug. 11, the increase by the exchange was 22 percent to $7,425. The cost of one contract after today’s close was $175,730. The maintenance margin will rise to $7,000 from $5,500. LINK...
**********************************************
Why bother with margin in this volatility? Just buy the physical metal fully paid for and aviod the stress. Eventually if they keep raising margins we will have a strictly physical market. BK
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