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You are long 1 5 gold futures contracts, established at an initial settle price of $ 1 , 4 9 7 per ounce, where each
You are long gold futures contracts, established at an initial settle price of $ per ounce, where each contract represents troy ounces. Your initial margin to establish the position is $ per contract and the maintenance margin is $ per contract. Over the subsequent four trading days, gold settles at $ $ $ and $ respectively.
Compute the balance in your margin account at the end of each of the four trading days, and compute your total profit or loss at the end of the trading period. Assume that a margin call requires you to fund your account back to the initial margin requirement. For days in which a deposit is necessary, give the margin balance after the required deposit.
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