Gold hovered around 1400 in European session but near-term outlook remained uncertain. New margin requirements in CME Group’s Comex unit triggered slumps in precious metals yesterday. We expect the impact will last for some time and silver should suffer more seriously than gold. Crude oil fluctuated around 86/87 ahead of US inventory report. Price was weighed down earlier in the day as China’s net imports plummeted to a 18-month low in October.
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Gold Recovers but Margin Calls for Silver may Trigger Further Decline
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