India Doubles Gold Futures Margins as Prices Rally to Record
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India’s commodity markets regulator ordered exchanges to double margins on gold futures after a record plunge in the nation’s currency fueled a rally in bullion priced in rupees to an all-time high.
Initial margins on all contracts will rise to 5 percent of the value from Sept. 2, from 4 percent, the Forward Markets Commission said on website. An additional margin of 5 percent will be levied on gold, silver, Brent crude, crude oil, and natural gas contracts due to high volatility in prices and it will be effective until further orders, it said.