A jeweler requires 500 troy ounces of gold after three months. The spot price of gold for a troy ounce is Rs.20,000. He buys three futures contracts at Rs.23,000 each. Did he take the appropriate action? If the spot price of the gold per troy ounce after three months is Rs.18,000, what is the profit/loss for the jeweler (each gold contract is for 100 troy ounces)