Question $10$

$6pts$

The standard deviation of gold spot prices is $0\mathrm{.}68,$ and the standard deviation of the futures prices is $0\mathrm{.}75.$ The correlation between the spot and futures prices is $0\mathrm{.}86.$ A trader wants to set up a variance$-$minimizing hedge for $7360z$ of gold. The size of one futures contract is $100oz.$ How many contracts should the trader use to achieve his$/$her goal?