1. You currently hold 70 troy ounces of gold. Micro gold futures allow buyers to purchase 10 troy ounces of gold and are quoted in U.S. dollars and cents per troy ounce. Currently micro gold futures maturing on April 24, 2020 have a futures price of $1,728.70. If you fully hedge your gold position using the April futures and plan to sell the gold at the spot price tomorrow, what will be your profit or loss if the price of gold tomorrow is $1,720?

   		$121,009
   		$125,741
   		$137,984
   		$144,412
   		None of the other answers are correct