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Suppose that on October 24 you Sell 7 March gold futures contracts for $285 per ounce. At 11:00 am on October 25 you buy 5

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Suppose that on October 24 you Sell 7 March gold futures contracts for $285 per ounce. At 11:00 am on October 25 you buy 5 March contracts for $276.5 ounce. At the close of trading on October 25 , gold futures settle for $270.5 ounce. If the contract size is 100 ounces and the initial margin equals 2850 , how much do you gain or lose as of the close? 7150.0 7150.0 1350.0 1350.0

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