Gold is higher following the CME's Friday announcement of a cut in initial gold margins to...

|By:, SA News Editor

Gold is higher following the CME's Friday announcement of a cut in initial gold margins to $6.6K/contract from $7.425K, effective January 2. The maintenance margin will be a lowered to $6K from $6.75K. GLD +1.4%, though the bulk of the gain has come in the last hour.