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View Full Version : Shanghai Futures Exchange Silver Contracts APPROVED!


infowars
04-27-2012, 02:32 PM
482 oz LOT SIZE and only 7% Margin Requirement!!


April 27, 2012 - 7:03am

The Shanghai Futures Exchange received regulatory approval on Wednesday to start trading in silver contracts, giving Chinese investors a new way to bet on the precious metal.

The lot size of the contracts was set at 15 kilograms and the lot prices will be allowed to fluctuate by 5 percent a day. The margin requirement was set at 7 percent and prices will be quoted in yuan. The minimum amount the prices will be allowed to fluctuate was set at 1 yuan (16 US cents).

The silver contracts are the first of their type to be offered in China. Before, investors had to use Shanghai Gold Exchange Ag (T+D) contracts to conduct certain transactions of the metal. They could also go to commercial banks to buy paper silver, which don't have to be delivered physically.

"There has been an absence of a means of trading in silver in China," said Wang Ruilei, an analyst with CGS Co Ltd, a precious metal trader. "The market will be bigger and more liquid with the advent of these future contracts."

http://www.silverseek.com/article/futures-exchange-offer-contracts-silver

Ryanferr
04-27-2012, 02:56 PM
I thought paper was manipulative and evil? Guess only American's are evil?

PossumGrease
04-27-2012, 03:44 PM
I thought paper was manipulative and evil? Guess only American's are evil?

Ryan. We're all getting tired of your common sense approach to the silver market.

CitiManager
04-27-2012, 05:12 PM
Ryan. We're all getting tired of your common sense approach to the silver market.

LOL! Remember when he said, "Most people talk sh*t about silver?"

The mouth on that kid.

coindog
04-27-2012, 05:31 PM
I thought paper was manipulative and evil? Guess only American's are evil?

Ha, Ha. It depends on the rules (over there) which we don't know yet. what's wrong here is the lack of position limits allowing concentrated naked shorting. and the CFTC "investigating" it for over three years. anyway it should lead to some interesting price action when both are up and running.

Ryanferr
04-27-2012, 05:35 PM
Ha, Ha. It depends on the rules (over there) which we don't know yet. what's wrong here is the lack of position limits allowing concentrated naked shorting. and the CFTC "investigating" it for over three years. anyway it should lead to some interesting price action when both are up and running.

However scary this may be, the US is generally regarded for having the "best" and most "transparent" institutions....so we shall see what this has in store for us. I suspect it will be similar to the last time we spoke about silver futures opening up in Asia: nothing happened.

SilverTongueDevil
04-27-2012, 06:09 PM
For some reason all I am getting out of this is a visual from American Pie, when the kid sticks his finger in some warm pie... We all know how this will end

coindog
04-27-2012, 08:05 PM
However scary this may be, the US is generally regarded for having the "best" and most "transparent" institutions....so we shall see what this has in store for us. I suspect it will be similar to the last time we spoke about silver futures opening up in Asia: nothing happened.

now when you stay up late there will be more squiggles in the chart.:D

moonstears
04-27-2012, 08:15 PM
"The lot size of the contracts was set at 15 kilograms and the lot prices will be allowed to fluctuate by 5 percent a day."
Uh, right now that's $1.60 per ozt, though rare, it does happen, as we've seen...so WTH?

Ryanferr
04-27-2012, 11:31 PM
"The lot size of the contracts was set at 15 kilograms and the lot prices will be allowed to fluctuate by 5 percent a day."
Uh, right now that's $1.60 per ozt, though rare, it does happen, as we've seen...so WTH?

Sounds like a controlled, manipulated market.

yellowsnow
04-27-2012, 11:53 PM
I thought paper was manipulative and evil? Guess only American's are evil?only for naked paper

GJHIII
04-28-2012, 02:30 AM
only for naked paper

+1, My thought also. And I believe our esteemed Ryanferr is on record with us on this.

2ndrevolution
04-28-2012, 11:11 AM
I suspect it will be similar to the last time we spoke about silver futures opening up in Asia: nothing happened.

Yeah, wake me up when something actually happens.