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Compute the daily loss-gain

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On Aug 26, you sold 10 gold futures contracts at a price of $1298/oz. Each contract represents gold 100 oz. The initial margin is USD 5,000 per contract, and the maintenance margin is USD 4,000 per contract. You deposited the initial margin on Aug 26. The subsequent settlement prices are shown in the table below:

Aug 26

Aug 27

Aug 28

Aug 29

Aug 30

Aug 31

1297

1284

1283

1304

1307

1315

  1. Compute the daily loss/gain, and cumulative loss/gain for each date.
  2. Suppose you did not withdraw any money from your account during this period, when would you receive a margin call and how much would you have to deposit to meet the margin call?

Reference no: EM131657476

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