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Compute the effective price per ounce of gold

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Reference no: EM132884790

Question - The spot price of gold today is $1,500 per ounce. A company making jewelry decides to use gold futures to hedge gold price risk. It goes long on gold futures today. The basis today is -$50 and $10 when the hedge is lifted. Compute the effective price per ounce of gold?

a. $1,575

b. $1,565

c. $1,560

d. $1,570

e. $1,580

Reference no: EM132884790

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