bobbyw24
11-10-2010, 02:01 PM
By Claudia Assis, MarketWatch
SAN FRANCISCO (MarketWatch) — Tighter margin requirements for silver futures triggered a sharp selloff in the metal Wednesday.
Silver led losses in a day all metals felt the pinch of a rising dollar. Gold settled under $1,400 an ounce, snapping a four-day record-high streak. Palladium and platinum were also sharply lower, as it was copper.
Silver for December delivery /quotes/comstock/21e!f1:si\z10 (SIZ10 2,713, -178.10, -6.16%) declined $2.04, or 7.1%, to $26.87 an ounce on the Comex division of the New York Mercantile Exchange.
The silver contract hit a record volume on Wednesday as 201,216 contracts changed hands, beating the previous record of 127,890 contracts set Dec. 30, 1976, the CME Group said.
CME, which runs Comex, late Tuesday raised margin requirements for silver futures.
http://www.marketwatch.com/story/gold-falls-from-record-as-metals-sell-off-2010-11-10?siteid=rss&rss=1
SAN FRANCISCO (MarketWatch) — Tighter margin requirements for silver futures triggered a sharp selloff in the metal Wednesday.
Silver led losses in a day all metals felt the pinch of a rising dollar. Gold settled under $1,400 an ounce, snapping a four-day record-high streak. Palladium and platinum were also sharply lower, as it was copper.
Silver for December delivery /quotes/comstock/21e!f1:si\z10 (SIZ10 2,713, -178.10, -6.16%) declined $2.04, or 7.1%, to $26.87 an ounce on the Comex division of the New York Mercantile Exchange.
The silver contract hit a record volume on Wednesday as 201,216 contracts changed hands, beating the previous record of 127,890 contracts set Dec. 30, 1976, the CME Group said.
CME, which runs Comex, late Tuesday raised margin requirements for silver futures.
http://www.marketwatch.com/story/gold-falls-from-record-as-metals-sell-off-2010-11-10?siteid=rss&rss=1