You decide to purchase 300 ounce of Gold that currently trades for R177 per ounce. You then went short on 3 Gold Futures Contracts, which expires in three months. Each futures contract is for 100 ounce of gold. When you entered the futures contract the futures price was R180. At expiry date the spot price is R173. At expiry date, your spot market net proceeds are best described as a.) +1200 / -1200/ +900/ -900 / -2100 / +2100

In the futures market, the cash flow arising from your margin account is best described as b.) -900/ + 900 / +1200 / -1200 / +2100 / -2100 . The net outcome of your hedge will be a cash flow of c.) +2100 / -2100 / +900 / -900 / +1200 / -1200

Find A,B and C