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Part I. It is now January. The current interest rate is 5% per annum annual compounding. The June future price for gold is $1846.30, while

Part I.

It is now January. The current interest rate is 5% per annum annual compounding. The June future price for gold is $1846.30, while the December future rice is $1860.00. Find a strategy to explore the arbitrage opportunity.

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