Gold steady on Greece debt fear; Shanghai margin weighs
May 30, 2011 by goldguru · Leave a Comment
Gold held steady on Monday, buoyed by the ongoing debt crisis in the euro zone, while silver trimmed gains as a hike in margins by the Shanghai Gold Exchange kept sentiment in check.
The Shanghai bourse plans to temporarily increase margins on gold and silver forward contracts on settlement at June 2 and trading limits on June 3, before the market closes for a public holiday on June 6 to dampen a surge in volumes.
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