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It is July 2013. A mining company has just discovered a small deposit of gold....

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It is July 2013. A mining company has just discovered a small deposit of gold. The gold will then be extracted on a more or less continuous basis for one year, at a rate of approximately 3,000 ounces per month. Futures contracts on gold are available on the New York Mercantile Exchange. There are delivery months every two months from August 2013 to December 2014. How should the company use futures to hedge its price risk? Sell 10 one month futures contracts until the mine has been depleted. O Sell 30 one month futures contracts until the mine has been depleted. O Buy 30 one month futures contracts until the mine has been depleted. O Buy 10 one month futures contracts until the mine has been depleted

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