Question
Use the following data for gold and platinum futures (where prices are in dollars per troy ounce and margin account balances do not earn any
Use the following data for gold and platinum futures (where prices are in dollars per troy ounce and margin account balances do not earn any interest) to answer the questions that follow:
Trading June Gold Futures April Platinum Futures
Date 100 troy oz. per contract 50 troy oz. per contract
Jan 20 1594.5 1874.5
Jan 21 1592.4 1878.5
Jan 22 1597.7 1883.1
Suppose that you go short three contracts of April platinum futures on Jan 20 and long two contracts of June gold on Jan 21. Then the value of your portfolio at the closing of Jan 22 has changed by? (Please show all steps)
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