A trader owns gold as part of a long-term investment portfolio. The trader can buy gold for \(\$ 1,250\) per ounce and sell it for \(\$ 1,249\) per ounce. The trader can borrow funds at \(6 \%\) per year and invest funds at \(5.5 \%\) per year (both interest rates are expressed with annual compounding). For what range of 1-year forward prices of gold does the trader have no arbitrage opportunities? Assume there is no bid-offer spread for forward prices.