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

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

-You purchased 7 December gold futures at the low price for the day and sold them at the last price for the day. What was your dollar profit?
A) $1,680
B) $420
C) $1,260
D) $1,380
E) $1,520

Question

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

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

-You purchased 7 December gold futures at the low price for the day and sold them at the last price for the day. What was your dollar profit?
A) $1,680
B) $420
C) $1,260
D) $1,380
E) $1,520

Quizplus · Accepted Answer

The purchase price was $382.20 (low price), and the selling price was $384.60 (settle price). The profit per ounce is $384.60 - $382.20 = $2.40. For 100 troy ounces per contract, the profit per contract is $2.40 * 100 = $240. For 7 contracts, the total profit is $240 * 7 = $1,680.

Gold (CMX) 100 Troy Oz -You Purchased 7 December Gold Futures at the Low Price