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The spot price of gold is US $ 1 0 0 0 / oz . The quoted 1 - year forward price of gold is

The spot price of gold is US $1000/oz.
The quoted 1-year forward price of gold is US $1100/oz.
The 1-year US$ interest rate is 5% per annum
No income or storage costs for gold
Is there an arbitrage opportunity?

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