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- Suppose that: The spot price of gold is US$1,400 /02 The 1-year forward price of gold is US$1,400 /o2 - The 1-year US$ interest

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- Suppose that: The spot price of gold is US$1,400 /02 The 1-year forward price of gold is US$1,400 /o2 - The 1-year US$ interest rate is 5% per annum Is there an arbitrage opportunity

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