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;

<<Back to more Kitco exclusive news

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication