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Suppose that you bought two one-year gold futures contracts when the one-year futures price of gold was US$1,340.30 per troy ounce. You then closed the

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Suppose that you bought two one-year gold futures contracts when the one-year futures price of gold was US\$1,340.30 per troy ounce. You then closed the position at the end of the sixth trading day. The initial margin requirement is US\$5,940 per contract, and the maintenance margin requirement is US\$5,400 per contract. One contract is for 100 troy ounces of gold. The daily prices on the intervening trading days are shown in the following table. Assume that you deposit the initial margin and do not withdraw the excess on any given day. Whenever a margin call occurs on Day t, you would make a deposit to bring the balance up to meet the initial margin requirement at the start of trading on Day t+1, i.e., the next day. a. What are the initial margin and maintenance margin on your margin account? (1 mark) b. Fill the appropriate numbers in the blank cells in the following table. (Hint: See solution to Q19 in Lesson 2 Learning Activity.) (4 marks) c. What is your total profit after you closed out your position

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