You speculate in the market by selling 8 gold futures contracts when the futures price is $556.60 per ounce. The price on the contract maturity date is $557.20. What is your total profit (loss) if the contract size is 100 ounces?
A) -$480
B) -$60
C) $60
D) $240
E) $480
Correct Answer:
Verified
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