lifted from the coininvest homepage..........
Osama bin Laden and Comex - a nice couple
2011-05-03 15:03
Osama bin Laden and Comex - a nice couple
Nearly 10 years after the attack on the WTC, Osama bin Laden was killed by US forces in the night of 2nd of May 2011.
“Justice has been done” were the words, President Obama used, after the kill of the public enemy number one.
The market reacted immediately: the US stocks began to rise as well as the Dollar. Asian and European stock markets achieved a two-month high but the commodity market dropped down.
But Osama bin Laden’s death was not solely responsible for yesterday’s price drop.
Another fact influenced silver which had dropped about 10% in one day:
Comex raised the silver margins for a second time in one week.
Now you have to deposit a minimum amount of 16.200$ cash when trading silver futures – per contract.
It is expected that traders will get used to this security deposit soon. Analysts don’t seem to see any reasons why silver should not rise again soon.