What is the percentage return on the position

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Question - The futures price of gold is $250. Futures contract are for 100 ounces of gold and the margin requirement is $3,000 a contract. The maintenance market requirement is $1,500. A speculator expects the price of gold to rise and enters into a contract to buy gold. If the futures price of gold rises to $255, what is the percentage return on the position?

Reference no: EM133027099

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