Canadian gold jewellery company sale to local retail outlets. This upcoming fall they will require 1000 troy ounces of gold and they would like to hedge the commodity risk of price fluctuations through NYMEX/COMEX. Today's (June) price of gold is US$2,000 per ounce. The settle price on a futures contract to buy gold in August is US$2,100 per ounce Assume you enter into a futures contract for 1000 troy ounces of gold. a. Assume the price of gold in the cash market, in your region of the country, in August is US$2,250 an ounce. Without taking delivery of your gold through the New York Exchange, close out the futures contract and calculate your gains, losses, and net payments on the 1000 ounces of gold (Negative answers should be indicated by a minus sign. Omit $ sign and comma in your response.) Numeric Response