Comex gold futures came under more selling pressure Tuesday morning and extended earlier losses on news the CME Group will raise margin requirements on gold futures, as well as those for silver, platinum and palladium. Gold initial margins were raised from $5,739 per contract to $6,075, effective at the close of business Tuesday. Last week the CME raised Comex silver futures margin requirements. December gold last traded down $18.50 an ounce at $1,350.00. The $1,350.00 area is key technical support for December gold. A firmer U.S. dollar index on Tuesday morning is adding to downside price pressure in the precious metals.

By Jim Wyckoff of Kitco News; jwyckoff@kitco.com

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