Question: Gold spot price ( USD per ounce ) = 2 , 1 5 7 . 4 1 Gold forward price for delivery in 6 months

Gold spot price (USD per ounce)=2,157.41
Gold forward price for delivery in 6
months (USD per ounce)
=2,202.64
Per annum 6-month US interest
rate continuously compounded
(T=0.5)=5.65%
Exchange rate 0.6555 USD
per 1 AUD
Question:
Calculate the per annum 6-month gold lease rate with continuous compounding
that is implied from the 6-month forward contract on gold with a forward price
of USD 2,202.64.

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