(Kitco News) - CME Group is lowering margins on U.S. gold futures early in the New Year.

The “initial” margin on new speculative positions for the main 100-ounce gold contract on the Comex division of the New York Mercantile Exchange will decline to $6,600 from $7,425 currently. The “maintenance” margin for existing speculative positions, as well as all hedge positions, will fall to $6,000 from $6,750.

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It turns out this will be the last slap of the year from the scum of market manipulators: On the above news today gold rallied to above $1680 and in after hours trading the miscreants drove it back down to a last of about $1665. It is sensed that the boys in control are apprehensive of a pending big dollar drop.