NO.PZ2020012005000033
问题如下：
A gold producer enters into a forward contract with an investment bank to sell 10,000 ounces of gold for USD 1,200 per ounce. Explain how the bank would hedge its risk without using futures contracts.
选项：
解释：
The bank can borrow gold from a central bank (paying the lease rate) and sell it in the market (investing the proceeds of the sale). When the forward contract matures, the bank buys the gold from the gold producer and returns it the central bank.
助教你好：
我看完题目后，得知生产商与投行签了一份远期合约，约定将来以USD 1,200 per ounce的价格出售10,000 ounces of gold。但完全看不出来投行会有啥风险要回避？怎么解析还说到了央行？是讲到黄金这个大宗商品就要自然联想到黄金储备与央行这东西吗？
我还看了以前的同学的提问，https://class.pzacademy.com/qa/57979 里面说到“投行是short sell那一方”，助教说“对的”。他们是怎么从这么短的题干中看出【投行是short sell那一方，向央行租借黄金】？
