Question
You are long 10 gold futures contracts, established at an initial settle price of $1,620 per ounce, where each contract represents 100 ounces. Over the
You are long 10 gold futures contracts, established at an initial settle price of $1,620 per ounce, where each contract represents 100 ounces. Over the subsequent four trading days, gold settles at $1,625, $1,622, $1,625, and $1,632, respectively. |
a. | Calculate the profit or loss for each trading day. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) |
b. | Compute your total profit or loss at the end of the trading period. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) |
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