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You buy 4 December gold futures contracts when the futures price is $1,801.45 per ounce. Each contract is on 100 ounces of gold and the
You buy 4 December gold futures contracts when the futures price is $1,801.45 per ounce. Each contract is on 100 ounces of gold and the initial margin per contract is $4,000. The maintenance margin per contract is $1,250. During the next 6 days the futures price falls slowly to $1,798.65 per ounce. What is the balance of your margin account at the end of the 6 days?
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