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Gold has a spot price of $3650 and the four month futures price is $3545. The four month continuously compounded risk-free interest rate is 4.5

Gold has a spot price of $3650 and the four month futures price is $3545. The four month continuously compounded risk-free interest rate is 4.5 per cent per year. The storage costs for Gold is 1.5 per cent per year continuously compounded.

Calculate the convenience yield on Gold?

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