(Kitco News) - The CME Group is raising the margins needed to trade Comex gold and silver futures are being increased by 21.5% and 15.6%, respectively, and the change will take effect after the close of business on Monday, the exchange said late Friday in a press release.

The exchange is also raising copper futures margins by 17.6%.

The move by the CME Group to raise the margin needed – also known as performance bonds – to trade gold, silver and copper futures on the Comex division of the New York Mercantile Exchange comes as prices for the metals plunged during the past two days as part of a sell off in financial markets in general. The CME Group is the parent company for the Comex and Nymex.

The CME Group raised margins in other markets on Thursday and on Friday it also announced higher margins for long-term U.S. Treasury bond futures.

The changes are as follows:

Comex 100 ounce gold futures and 100-oz gold trade at settlement

Trader Type Current Initial
Margin		 Current
Maintenance		 New
Initial		 New
Maintenance
Speculator $9,450 $7,000 $11,475 $8,500
Hedger/Member $7,000 $7,000   $8,500 $8,500  

Comex MiNY Gold Futures

Trader Type Current Initial
Margin		 Current
Maintenance		 New
Initial		 New
Maintenance
Speculator $4,725 $3,500   $5,738   $4,250
Hedger/Member $3,500 $3,500 $4,250 $4,250

10 oz Troy Gold Futures

Trader Type Current Initial
Margin		 Current
Maintenance		 New
Initial		 New
Maintenance
Speculator $945 $700 $1,148   $850
Hedger/Member $700 $700 $850 $850

Comex 5000 silver futures and silver futures trade at settlement

Trader Type Current Initial
Margin		 Current
Maintenance		 New
Initial		 New
Maintenance
Speculator $21,600 $16,000 $24,975 $18,500
Hedger/Member $16,000 $16,000 $18,500 $18,500

Comex MiNY silver futures

Trader Type Current Initial
Margin		 Current
Maintenance		 New
Initial		 New
Maintenance
Speculator $10,800 $8,000 $12,488 $9,250
Hedger/Member $8,000 $8,000 $9,250 $9,250

E-Mini silver futures

Trader Type Current Initial
Margin		 Current
Maintenance		 New
Initial		 New
Maintenance
Speculator $4,230 $3,200 $4,995   $3,700  
Hedger/Member $3,200 $3,200 $3,700   $3,700  

Comex copper futures

Trader Type Current Initial
Margin		 Current
Maintenance		 New
Initial		 New
Maintenance
Speculator $5,738 $4,250 $6,750 $5,000
Hedger/Member $4,250 $4,250 $5,000 $5,000

E-Mini copper futures

Trader Type Current Initial
Margin		 Current
Maintenance		 New
Initial		 New
Maintenance
Speculator $2,869 $2,125 $3,375 $2,500
Hedger/Member $2,125 $2,125 $2,500 $2,500

By Debbie Carlson of Kitco News dcarlson@kitco.com

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