Settled your futures agreement at that price

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Reference no: EM131886485

On March 1, you bought 1 contract of gold futures (100 oz) at $1,210 per ounce. The agreement is good for any day up to March 21. Throughout that period, the price of gold hit a low of S1,160 and hit a high of $1,280. The price settled on March 21 at $1,180, and on March 21, you settled your futures agreement at that price. Did you gain or lose? By how much? Please show clear work.

Reference no: EM131886485

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