the market has now stabilised around the $1,632, level with good support coming from Asian buyers.
The Shanghai Gold Exchange announced an increase in margin requirements and trading bands for its gold and silver contracts.
The margin for gold contracts will be raised to 13% from 12%, while the trading band is increased to 10% from 9% as of 26 April settlement. For silver, the margin becomes 16% (from 15%), and trading limits are 13% (from 12%). This has not had much effect on markets because the move was largely anticipated in advance as of the end of April/early May holidays in China.