Consider the following prices, volume and open interest for gold futures contracts. Contract size: 100 oz Price units: $/oz(a) What was the value of the contract that expires in February 2022 when the market closed? (b) Which futures contracts had a higher settle price on the previous trading day? (c) Would a speculator prefer to go short at the daily high price or the daily low price? ContractLastChangeOpenHighLowPreviousVolumeOpen Int+ GCY00 (Cash)+ GCQ21 (Aug '21)+ GCU21 (Sep '21)+ GCV21 (Oct '21)+ GCZ21 (Dec '21)+ GCG2 (Feb '22)1,704.61-58.551,763.201,763.431,693.691,763.16388N/A1,708.6-51.41,753.51,753.81,692.61,760.0531,4001,708.3-52.01,762.81,762.81,690.11,760.33911,6931,709.0-52.11,763.01,763.01,676.41,761.12,60346,4841,712.4-50.71,765.01,765.71,677.91,763.138,976397,6391,713.0-52.11,766.01,766.41,680.01,765.131822,695GCJ22 (Apr 22)1,702.8-64.41,762.81,763.21,682.41,767.21557,769+ GCM22 (Jun '22)+ GCQ22 (Aug '22)1,719.1-49.91,771.01,771.01,704.31,769.0395,5091,710.2-60.61,710.21,710.21,710.21,770.82604+ GCV22 (Oct '22)1,739.1-33.41,739.11,739.11,739.11,772.51359+ GCZ22 (Dec '22)1,709.3-65.01,774.91,774.91,703.01,774.3221,451

Value of contract GCG22(Feb'22) is Last price is 1,713.0 Contract size is 100oz Value of contract =…

Consider the following prices, volume and open interest for gold futures contracts. Contract size: 100 oz Price units: $/oz (a) What was the value of the contract that expires in February 2022 when the market closed? (b) Which futures contracts had a higher settle price on the previous trading day? (c) Would a speculator prefer to go short at the daily high price or the daily low price?

Consider the following prices, volume and open interest for gold futures contracts. Contract size: 100 oz Price units: $/oz (a) What was the value of the contract that expires in February 2022 when the market closed? (b) Which futures contracts had a higher settle price on the previous trading day? (c) Would a speculator prefer to go short at the daily high price or the daily low price?

Quickbooks Online Accounting

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ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter4: Operating Activities: Sales And Cash Receipts

Section: Chapter Questions

Problem 3.6C

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Exchange Rate Risk

It is the possibility that the value of a currency will fluctuate in the future. In the wake of globalization, business establishments have increasingly ventured into international markets. The volume of international trade has prospered excellently in the near past and is expected to be more affluent in the future. The use of exchange-traded derivative financial instruments has been multi-folded to provide for the requirements of various MNCs and offshore potential investors. Most banks and financial institutions have helped integrate the global economies. Our Government has introduced some bold and extreme measures to fulfil the purpose behind the fiscal, industrial, and monetary policies. The enactment of GST is a huge step towards streamlining the taxation system of the country. Owing to Covid-19, this aspect of corporate risk management has become critical.

Question

100%

Consider the following prices, volume and open interest for gold futures contracts.

Contract size: 100 oz

Price units: $/oz

(a) What was the value of the contract that expires in February 2022 when the market closed?

(b) Which futures contracts had a higher settle price on the previous trading day?

(c) Would a speculator prefer to go short at the daily high price or the daily low price?

Contract
Last
Change
Open
High
Low
Previous
Volume
Open Int
+ GCY00 (Cash)
+ GCQ21 (Aug '21)
+ GCU21 (Sep '21)
+ GCV21 (Oct '21)
+ GCZ21 (Dec '21)
+ GCG2 (Feb '22)
1,704.61
-58.55
1,763.20
1,763.43
1,693.69
1,763.16
388
N/A
1,708.6
-51.4
1,753.5
1,753.8
1,692.6
1,760.0
53
1,400
1,708.3
-52.0
1,762.8
1,762.8
1,690.1
1,760.3
391
1,693
1,709.0
-52.1
1,763.0
1,763.0
1,676.4
1,761.1
2,603
46,484
1,712.4
-50.7
1,765.0
1,765.7
1,677.9
1,763.1
38,976
397,639
1,713.0
-52.1
1,766.0
1,766.4
1,680.0
1,765.1
318
22,695
GCJ22 (Apr 22)
1,702.8
-64.4
1,762.8
1,763.2
1,682.4
1,767.2
155
7,769
+ GCM22 (Jun '22)
+ GCQ22 (Aug '22)
1,719.1
-49.9
1,771.0
1,771.0
1,704.3
1,769.0
39
5,509
1,710.2
-60.6
1,710.2
1,710.2
1,710.2
1,770.8
2
604
+ GCV22 (Oct '22)
1,739.1
-33.4
1,739.1
1,739.1
1,739.1
1,772.5
1
359
+ GCZ22 (Dec '22)
1,709.3
-65.0
1,774.9
1,774.9
1,703.0
1,774.3
22
1,451

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