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Q4 Khalid has just taken a long position in a futures contract for 100 ounces of gold to be delivered in January. Yousuf has just

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Q4 Khalid has just taken a long position in a futures contract for 100 ounces of gold to be delivered in January. Yousuf has just taken a short position in the same contract. The futures price is $400 per ounce. Calculate the initial margin requirement for Khalid and Yousuf (assuming 10%)

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