Gold (CMX) 100 Troy Oz -Suppose You Purchased 15 December Gold Futures at the Closing

Multiple Choice

Gold (CMX) 100 troy oz.; $ per troy oz.



$\begin{array}{|l|r|r|r|r|r|r|r|r|}\hline & \text { Open } & \text { High } & \text { Low } & \text { Settle } & \text { \$Chg } & \text { Sea. Hi } & \text { Sea. Lo } & \text { Op. Int. } \\\hline \text { December } & 384.00 & 389.50 & 382.20 & 384.60 & 0.20 & 394.80 & 280.00 & 183.612 \\\hline \text { April } & 385.00 & 391.00 & 385.00 & 387.10 & 0.15 & 395.70 & 287.00 & 10,167 \\\hline\end{array}$


-Suppose you purchased 15 December gold futures at the closing price for the day. One month later you sell them for $392.55. What is your profit on this transaction?

A) $12,825
B) $15,525
C) $14,825
D) $11,925
E) $9,025