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(Kitco News) - CME Group is cutting margins for gold futures, the exchange announced late Thursday.

The new rates will be effective after the close of business on Tuesday, CME Group said. The exchange operator also announced margin changes for a number of other markets, mostly lower, including reduced margins for crude oil, gasoline, lean hogs and lumber.

CME Group said the new margins were part of the “normal review of market volatility to ensure adequate collateral coverage.”

For the main 100-ounce gold contract on the Comex division of the New York Mercantile Exchange, the initial margin for new speculative positions will fall to $9,113 from $10,125. The maintenance margin for existing speculative positions, plus all hedge positions, will fall to $6,750 from $7,500.

Margins were also trimmed for the smaller-sized gold contracts.

The full CME Group notice can be seen at http://www.cmegroup.com/tools-information/lookups/advisories/clearing/files/Chadv12-221.pdf.

By Allen Sykora of Kitco News; asykora@kitco.com