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Ashanti Goldfields Co. (ASL) Message Board

  • mad_dog_fleas mad_dog_fleas Nov 1, 1999 4:10 PM Flag

    Futures Contracts

    My understanding is that a futures delivery
    contract has a specific quantity and date. If i sell an
    option to take delivery of 1 mil. ounces of gold on Nov
    22, 2007 at $300 per ounce and gold goes to $400 per
    ounce on Nov 22, 1999 that does not give you the right
    to call for delivery of the gold in 1999. You have
    to wait until 2007 to get the gold. But, since the
    price has gone up so much, you want assurance in the
    form of Margin Money to insure that you will get your
    gold. Once 2007 comes and you get your gold, you give
    back the Margin Money. At least that's how it used to
    work with cattle futures.

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