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Assume the following information is from a 3-month Gold Futures Contract (KBE) on BBJ. KBE closing price IDR 850.000/gram. Minimum contract amount: 1 kilogram Initial

Assume the following information is from a 3-month Gold Futures Contract (KBE) on BBJ. KBE closing price IDR 850.000/gram. Minimum contract amount: 1 kilogram Initial margin: 12% of the initial contract value. Minimum margin: 6% of initial contract value. a. Gold jewelery companies want to hedge against exposure to gold price fluctuations. What KBE position should be taken? (1%) b. If the company takes a 10 kg contract position, what is the initial margin to be deposited? (2%) c. Calculate the profit (loss) of a 1 kg KBE short position if tomorrow the KBE closing price IDR 840,000/gram. (2%) d. At what KBE price will a long position be subject to a margin call? (2%)

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