CME Announced 22% hike on margins for gold. Gold's now taking a nosedive.
Stay tuned and buy the dip as the weak hands get shaken out.
I saw that. I find it interesting that it affected the market for only a couple of hours. Are the weak players already gone?
Remember, margin hikes on silver last spring slapped the price down decisively and it has been range bound since then. If gold isn't as affected, it will, I think, be a pretty significant sign.
margin hikes on silver last spring slapped the price down decisively
In fairness though there were 5 hikes (within a week?), so gold shrugging off 1 hike is one thing but if we see a series of them then that'll be a whole 'nother ballgame. It's going to get more interesting...
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