An investor purchases one gold futures contract for delivery in August 2011. Using the information in Table

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An investor purchases one gold futures contract for delivery in August 2011. Using the information in Table 23.3, determine the settle price for the contract on July 15, 2011. What is the total futures price for the contract? If the settle price on the next trading day is $1,592/oz, will the investor have money deposited into his margin account or withdrawn? How much? Suppose that the investor eventually closes out the position by selling at a price of $1,594/oz. How much is his profit or loss?
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