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Suppose that on October 24 you buy 11 March gold futures contracts for $290 per ounce. At 11:00 am on October 25 you buy 8

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Suppose that on October 24 you buy 11 March gold futures contracts for $290 per ounce. At 11:00 am on October 25 you buy 8 more contracts for $281.0 ounce. At the close of trading on October 25, gold futures settle for $290.5 ounce. If the contract size is 100 ounces and the initial margin equals 2900, how much do you gain or lose as of the close? 8150.0 O 7050.0 O-8150.0 -7050.0

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