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. On Aug 26, you sold 10 gold futures contracts at a price of $1298/oz. Each contract represents gold 100 oz. The initial margin is
. On Aug 26, you sold 10 gold futures contracts at a price of $1298/oz. Each contract represents gold 100 oz. The initial margin is USD 5,000 per contract, and the maintenance margin is USD 4,000 per contract. You deposited the initial margin on Aug 26. The subsequent settlement prices are shown in the table below: Aug 30 1307 Aug 26 1297 Aug 28 1283 Aug 27 1284 Aug 29 1304 Aug 31 1315 1) Compute the daily loss/gain, and cumulative loss/gain for each date. 2) Suppose you did not withdraw any money from your account during this period, when would you receive a margin call and how much would you have to deposit to meet the margin call
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