You Own Three January Futures Contracts on Gold A)$66,050
B)$66,740
C)$66,820
D)$198,150
E)$200,460

question 4

Multiple Choice

You own three January futures contracts on gold.What is the total value of your position as of the end of this day's trading?
Gold - 100 troy oz.: u.S.dollars and cents per troy oz. $$\begin{array} { | r | r | r | r | r | } \hline & \text { Open } & \text { High } & \text { Low } & \text { Settle } \\\hline \text { Nov } & 734.2 & 735.6 & 730.4 & 732.8 \\\hline \text { Jan } & 667.4 & 668.2 & 658.1 & 660.5 \\\hline\end{array}$$

• A)$66,050
• B)$66,740
• C)$66,820
• D)$198,150
• E)$200,460

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Definitions:

Tenants In Common

A form of co-ownership where each party owns a separate and undivided interest in the property, and upon death, their interest passes to their heirs or estate.

Operation Of Law

A legal change that occurs automatically due to existing laws, without the need for an action by a court or party.

Joint Tenants

Co-owners of property who have equal rights to the whole property and a right of survivorship, meaning if one owner dies, the remaining owner(s) inherit the deceased's share directly.

Right Of Survivorship

A feature of some types of co-ownership of property causing a co-owner’s interest in property to be transferred on his death immediately and by operation of law to his surviving co-owner(s). See also tenancy by the entirety and joint tenancy.