Changes to Spot Gold margin from 2% to 20% - Singapore only

[Guest Nay]

Anyone affected from the spot gold margin changes? Especially for existing openings required to close or reduce due to 10 times higher margin requirement.

[JamesIG]

Just to confirm this is down to the Singaporean regulators for Singapore based accounts only. They have recently reclassified gold from an FX pair against the dollar, to a commodity.  any questions please ask. 

[Guest Nay]

Dear James,

Thank you so much for explanation. No wonder I heard other country based account not affected at all. Too bad for me as i have negative running positions which plan to hold longer have to close them or reduce 1:10 ratio by end of this month. No holding power anymore.

Best Regards,
Nay

[Guest Nay]

Dear James, any idea what is the reason for the changes made for singapore based accounts only ?

[Guest NAY]

Anyone can explain what is the reason for changes for only Singapore based account?

[JamesIG]

1 minute ago, Guest NAY said:

Anyone can explain what is the reason for changes for only Singapore based account?

Unfortunately we only know that this is a regulatory change, and don't have specifics on their exact reasoning. We can only adhere to the outcome.