Multiple Choice
Futures contracts on gold are based on 100 troy ounces and priced in dollars per troy ounce. Assume the January gold contract settled today at 1285.10 and opened at 1284.60. The April contract settled at 1285.30 and opened at 1285. You own four of the April contracts that you purchased at 1284.70. What is your total profit or loss to date?
A) $160
B) $240
C) $40
D) $120
E) $60
Correct Answer:
Verified
Correct Answer:
Verified
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