Question
You are long 10 gold futures contracts, established at an initial settle price of $1,570 per ounce, where each contract represents 100 ounces. Over the
You are long 10 gold futures contracts, established at an initial settle price of $1,570 per ounce, where each contract represents 100 ounces.
Over the subsequent four trading days, gold settles at $1,579, $1,575, $1,583, and $1,585, respectively.
Calculate the profit or loss for each trading day. (Do not round intermediate calculations. A negative answer should be indicated by a minus sign.)
Profit/Loss
Day 1 $....
Day 2 $.....
Day 3 $.....
Day 4 $.....
Compute your total profit or loss at the end of the trading period. (Input your answer as a positive value. Do not round intermediate calculations.)
$
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