Silver Margin Requirements
Back on November 9th the CME surprised the markets by announcing they were going to increase margin requirements for silver. Silver prices fell over $3 in just a few hours on the news, which I wrote about in What Happened To Silver?
Today the CME announced another surprise margin requirement, increasing it by another 50% from the current level.
Silver's reaction to the news?
It not only completely disregarded the news, it rocketed upward to a new 30 year high.
The Financial Times interviewed David Madge this morning who is head of bullion sales at the Royal Canadian Mint. His comments:
"We have sold everything we can produce in silver and have demand for at least twice that volume.”
Silver coin sales at the US Mint and the Austrian Mint also hit record levels in January.
Today the CME announced another surprise margin requirement, increasing it by another 50% from the current level.
Silver's reaction to the news?
It not only completely disregarded the news, it rocketed upward to a new 30 year high.
The Financial Times interviewed David Madge this morning who is head of bullion sales at the Royal Canadian Mint. His comments:
"We have sold everything we can produce in silver and have demand for at least twice that volume.”
Silver coin sales at the US Mint and the Austrian Mint also hit record levels in January.
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