Gold futures contracts are based on 100 troy ounces and are priced in dollars per troy ounce. At the end of trading today, you saw a market report on the November contracts with these prices: Open 1293.00, High 1295.00, Low 286.00, and Settle1296.10. If you own two of these contracts, what is the value of your position as of the end of the trading day?
A. $129,610
B. $259,000
C. $258,600
D. $259,220
E. $260,4607.
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