Higher CME Group collateral requirements for trading in gold, copper and silver futures which all plunged in trading last week go into effect.

CME said that gold margins are being raised by 21% silver margins by 16% and copper margins by 18% effective at the close of trading Monday.

Following the change, speculative investors in the benchmark 100-troy ounce gold contract must put up USD 11,475 to open a position and maintain USD 8,500 of that to keep it overnight. Producers and consumers of the precious metal must put up USD 8,500 to open a position and the same figure to hold it overnight.

In silver, speculative traders must put up USD 24,875 to trade a 5,000 ounce contract. The cost to hold a contract overnight was lifted to USD 18,500. Copper speculators must post USD 6,750 to open a contract and USD 5,000 to hold it overnight.

(Sourced from www.chicagotribune.com)