CME CME Group Inc

U.S. exchange operator CME Group Inc. (CME) said late Wednesday it is raising the margin requirements for trade in a wide range of gold products, effective Thursday.

The speculative margin requirement for a new position in Comex 100 gold futures will rise to $7,425 from $6,075, or to $5,500 from $4,500 for existing "current maintenance" margins.

However, benchmark gold futures extended their rise in the wake of the announcement. Comex gold for December delivery rose to $1,807 an ounce from its $1,784 New York settlement level Wednesday, ahead of the CME announcement.

-By Michael Kitchen; 415-439-6400; AskNewswires@dowjones.com