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On December 15, 2023, you took a long position in August 2024 Gold futures with a futures price of $1838.00 per ounce. Suppose that you

On December 15, 2023, you took a long position in August 2024 Gold futures with a futures price of

$1838.00

per ounce. Suppose that you hold your position until expiration and that the gold spot price is

$1941.25

on the August 1, 2024 delivery date. You initially bought 8 contracts and each contract is written on 100 ounces. What is your profit (loss) from trading the futures?

image text in transcribed
1. On December 15,2023 , you took a long position in August 2024 Gold futures with a futures price of $1838.00 per ounce. Suppose that you hold your position until expiration and that the gold spot price is $1941.25 on the August 1, 2024 delivery date. You initially bought 8 contracts and each contract is written on 100 ounces. What is your profit (loss) from trading the futures

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