On 27th September 2010, around 07:00 GMT, the price of Spot Gold was 1298.00(bid) - 1298.50(offer).

You believe the price of gold will rise so you take a buyposition of 100 oz., (equivalent to $5 per tick), at the offer price of $1298.50 per oz.

Unfortunately, the price of gold falls during the day, and at around 21:00 GMT, the price of gold was at
1294.00(bid) -1294.50 (offer).

You decide at this point cut your losses, so you close your position at the bid price of $1294.00 per oz. The price of gold has dropped by $4.50 per oz. and, as your position was equivalent 100 oz,you realize a loss of $450 (100 oz X $4.50 per oz.).

SUMMARY Open Price $1298.50 Close Price $1294.00 Difference $4.50 (90 ticks) Loss $450

The cut-off time for all Finance Fees calculations, and also generating statements, is set for all our products to 20:00 GMT when Daylight Saving Time applies in the US and 21:00 GMT when the US changes back to Standard Time. All orders executed before the cut-off time will appear on today's statement. All orders executed after the cut-off time will appear on next day's statement.