Contract Size 100 fine troy ounces Deliverable Grades 100 troy ounces (+5%) of refined gold, assaying no less than 0.995 fineness, cast either in one bar or in three one kilogram bars. Price Quote Dollars and cents/fine troy ounce. A futures price of 500 is equivalent to $500 per ounce. Contract Months First 3 consecutive months, 2 Feb, 2 Apr, 2 Aug and 2 Oct; 5 Jun and 5 Dec Ticker Symbols Electronic Trading: ZG Consider the information on the Chicago Board of Trade Gold Futures contract in the table and answer the following question. Today is June 1st and you want to use CBOT gold futures contracts to speculate on the price of gold, which you think is going to fall. The current spot price for gold is 650. The futures price for October delivery is 658.9. You sell 1 contract for October delivery. What is your cumulative profit on the transaction if the futures price for gold is 641 in October? - $900 - $1,200 - $1,790 - $1,850