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8. You are long 10 gold futures contracts, established at an initial settle price of $1,630 per ounce, where each contract represents 100 ounces. Over
8. You are long 10 gold futures contracts, established at an initial settle price of $1,630 per ounce, where each contract represents 100 ounces. Over the subsequent four trading days, gold settles at $1,638, $1,628, $1,638, and $1,641, respectively. Calculate the profit or loss for each trading day. (Do not round intermediate calculations. A negative answer should be indicated by a minus sign.)
Profit/ Loss | |
Day 1 | $ |
Day 2 | $ |
Day 3 | $ |
Day 4 | $ |
Compute your total profit or loss at the end of the trading period. (Input your answer as a positive value. Do not round intermediate calculations.)
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