You Own One Futures Contract on Gold That You Purchased

question 3

Multiple Choice

You own one futures contract on gold that you purchased at a quoted price of 1,448.5. The current price quote is 1,405.5. The contract size is 100 ounces and the quotes are expressed in dollars and cents per ounce. What is your current profit or loss on this investment?

• A)−$43.00
• B)−$912.00
• C)−$4,300.00
• D)$912.00
• E)$4,300.00

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