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32 You are long 10 gold futures contracts, established at an initial settle price of $1,600 per ounce, where each contract represents 100 ounces. Over

32

You are long 10 gold futures contracts, established at an initial settle price of $1,600 per ounce, where each contract represents 100 ounces. Over the subsequent four trading days, gold settles at $1,610, $1,597, $1,595, and $1,600, respectively. What is the profit or loss (or cash flows for the margin account) for each day?

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-$10,000; +$13,000; $2,000; -$5,000

$10,000; -$13,000; -$2,000; $5,000

$10,000; -$3,000; -$5,000; 0

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