Question: Look in The Globe and Mail or National Post at the prices of gold futures quoted on the COMEX futures exchange. What is the date

Look in The Globe and Mail or National Post at the prices of gold futures quoted on the COMEX futures exchange. What is the date of the most distant contract? Suppose that you buy 100 ounces of gold futures for this date. When do you receive the gold? When do you pay for it? Is the futures price higher or lower than the current spot price? Can you suggest why?

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