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You work for a jewelry firm that has 2,000 ounces of gold in inventory. The firm wants to hedge against a possible decline in gold

You work for a jewelry firm that has 2,000 ounces of gold in inventory. The firm wants to hedge against a possible decline in gold prices. As a result, last month they sold 20 gold futures contracts priced at $1,830. Each contract covers 100 ounces of gold. What is the firms total proceeds (from selling the underlying gold and from the profit/loss on the futures contracts) if gold spot prices are $1,800 at the contracts expiration date

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