Gold, Silver Futures Drop as CME Group Boosts Margins on Comex Conctracts

Gold fell from a record high in after-hours trading on the Comex, and silver futures slipped from the highest price in 30 years.

Gold futures for December delivery were trading at $1,388.40 an ounce as of 4:02 p.m. in New York, after touching a record $1,424.30. Earlier, the contract had settled at $1,410.10, up $6.90, or 0.5 percent, from yesterday’s close.

Silver futures for December delivery were at $26.77 an ounce. Earlier, the contract settled at $28.906 on the Comex, up 5.4 percent, after touching $29.34, the highest price for a most-active contract since March 1980.

Read Full Article from Bloomberg

- Posted: 2010-11-09 20:19:26

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