Following yesterday’s spike up to nearly $50 per ounce, the silver price has declined and is currently trading around $46, though at one point earlier today the price was below $45. As with gold, increased volatility is to be expected around technically-significant even numbers, especially at $50 – the previous nominal peak from silver’s last epic price spike in 1979-80.
The Chicago Mercantile Exchange Group (CME Group) also announced last night that it is raising the margin requirements on silver futures. As of the end of trading today, speculators will need to pay $12,825 to buy or sell a single full-sized silver contract, up from $11,745. The maintenance margin has been raised from $8,700 to $9,500.
Source: uk.ibtimes.com
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