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The CME Group, which operates the COMEX futures exchange where much of the world’s gold is traded, has raised margin requirements for gold futures contracts. Under the new rules, the initial margin for gold contracts under a non-heightened risk profile has been increased to 8 % of the contract’s value, up from 6 % previously. For positions under a heightened risk profile, margins have increased to 8.8 % from 6.6 %.
First Majestic Silver Corp. (NYSE: AG) is a Canadian mining company that focuses on the production of silver. The company was founded in 2002 and is headquartered in Vancouver, British Columbia. First Majestic Silver operates several silver mines in Mexico, including the San Dimas Silver/Gold Mine, Santa Elena Silver/Gold Mine, La Encantada Silver Mine, and La Parrilla Silver Mine.
The company’s primary business is the exploration, development, and production of silver and other precious metals. First Majestic Silver’s operations involve the extraction of silver ore from its mines, which is then processed to produce silver bullion and other by-products such as gold, lead, and zinc.