Futures markets strategies Example Assume a speculator buys a June gold contract (100 ounces) at $1393.20 by depositing the required margin of $7,500. The maintenance margin is $3,000. What is the market value of gold? What is the maintenance margin requirement? a) Assume that the gold contract goes up to $1400/ounce by May. What is the holding period return? b) Assume that the gold contract goes down to $1386.40/ounce by May. What is the holding period return? c) If price decreases in May assume that the speculator shorts by selling the June contract. What is the holding period return