Reborn as a Hong Kong Tycoon

Chapter 153 Gold Price Pullback
The selling price of Lin Baicheng was not the highest price of the day. The price of gold was running steadily above $196 per ounce, and there was no sign of adjustment for the time being.

In this regard, Lin Baicheng was not disappointed either.This is the same as stock trading. It is almost impossible to sell the stocks in your hand at the highest price. It is already very good to be able to sell at a relatively high price.

Because the turning point of the gold price is likely to be in these few days, either the gold price encounters resistance and pulls back, or the gold price breaks through the pressure level, so Lin Baicheng decided to pay more attention to the gold price trend in the past two days and temporarily put his work aside.

The staff who were called by Lin Baicheng to the United States to develop the game "Tank War" began to come to the United States one after another. Lin Baicheng has asked Isabella to arrange residences and office locations for these employees. Sabella arranged for him to meet these employees in two days.

the next day.

When the price of gold rose to US$197.46/oz, it began to fall, and fell to the lowest price of US$193.62/oz in half an hour, and then rebounded to around US$195/oz, in a range between US$194.5/oz and US$195.5/oz Shock.

Even though the drop was less than US$4/oz, the drop was already considerable, with the lowest point falling nearly two points from the highest point.If someone uses five times leverage, it is equivalent to a drop of nearly ten points.And if someone uses ten times leverage, it is equivalent to a drop of nearly twenty points.

When Lin Baicheng, who arranged to watch the market, got the news, the price of gold had already dropped to 196 US dollars per ounce. When he contacted London, the price of gold had already fallen below 195 US dollars. per ounce, that's how fast it fell.

However, Yuan Tianfan and Anyuan in London told Lin Baicheng that they decided to sell the delivery order at 196.5 US dollars per ounce, and they sold at a price lower than the market price, that is, the price of 196 US dollars per ounce at one time After selling, they were picked up by a large number of long orders, so they sold quite quickly, and then they started to open short orders.

Lin Baicheng didn't say anything about Yuan Tianfan's choice to sell gold at a price lower than the market price. If he wanted to sell quickly, he had to do so.This time in London, Lin Baicheng gave Yuan Tianfan the dominant authority, and Yuan Tianfan decided how to operate. An Yuan only needed to judge that Yuan Tianfan did not seriously damage Lin Baicheng's interests.

Yuan Tianfan's ability is indeed stronger than that of An Yuan, and Lin Baicheng will definitely not choose An Yuan to lead the operation, after all, he will not make trouble with money.

After contacting London, Lin Baicheng contacted Tokyo.Because Lin Baicheng specifically told Haruko Mori to keep an eye on the gold price trend these days, Tokyo also sold the delivery order, and it also started selling when it fell to around $196.5 per ounce, but it was selling while falling.

Sell ​​while falling, and sell at the current price. Although there are many orders, the time is naturally not fast. Fortunately, the total amount in Tokyo is relatively low. The amount after financing is only 196.15 million U.S. dollars. Sell ​​all delivery orders at an average price of USD/oz.

After selling out, start shorting, or take out million U.S. dollars to short.However, the selling was late, and the empty orders were naturally placed a little later.

More than half an hour later, the price of gold was still fluctuating around 195 US dollars per ounce, but London and Tokyo contacted Lin Baicheng respectively to report the situation.

First of all, in London, all long futures were sold at a price of 196 US dollars per ounce, while the cost price was 188 US dollars per ounce. Based on a fund of 7.5 million US dollars, the profit was nearly 3200 million US dollars.Afterwards, because of Lin Baicheng’s instructions, he still used 7.5 million US dollars to short, and the average short selling price was 195.75 US dollars per ounce, mainly because the amount of funds of 7.5 million US dollars was not small, and there was no way to close the deal at once, unless this time It's not too bad to short at a higher price, but Yuan Tianfan didn't do that.

I earned nearly 3200 million U.S. dollars from long positions. After deducting the handling fees for long and short positions, I was left with only 3100 million U.S. dollars. This money also became a margin.In this way, plus the original 1.5 million US dollars margin, the short-selling funds now have a 1.81 million US dollars margin. As long as the price of gold does not increase by more than 24%, it will not be liquidated.

After that, in Tokyo, the long futures worth 196.15 million US dollars were sold at an average price of 189 US dollars per ounce. At that time, the cost price of buying was 380 US dollars, making a profit of nearly 350 million US dollars.After deducting the handling fees for long and short positions, it is equivalent to earning about million US dollars.

In terms of shorting, we still shorted with a fund of 195.1 million U.S. dollars, and the cost price was 195 U.S. dollars per ounce.This is because the operating capital is only million US dollars, otherwise the cost price will only be below US dollars per ounce, obviously because the short-selling time is too late, so that the cost price is much higher than that in London.

Although the margin for this short-selling fund is only 1350 US dollars, if the drop exceeds 13.5%, the position will be liquidated, but Bailong Commercial Club still has 2000 million US dollars of funds to replenish the margin, so the funds here do not have to worry about liquidation. .

Today's gold price is fluctuating in a range at US$195 per ounce, and it is not entirely certain whether it will fall back and adjust.The current trend may be a callback to gain momentum, so as to accumulate strength to break through the pressure level of 200 US dollars per ounce.It is also possible that there is a real pullback, and the current range shock is just to lure the longs. The shorts want to eat meat, and of course hope that more longs will enter the market at this price.

In the end, whether it will be a surge or a pullback, it mainly depends on the game between the long and the short, and see which side has the stronger big funds.Both retail investors and small institutions follow the big funds, go long when the trend is upward, and short when the trend is downward.

Lin Baicheng will pay attention to whether the gold price will rise or fall in the market outlook, but he will not have any worries in his heart.If it rises, he can only make some money, and he will always make it back later.If it falls, then he did nothing wrong by shorting this time, and the other part of the fixed funds is a loss, but the follow-up long-term trend will not change, and he will still make a lot of money.

Two days later.

The price of gold fell to around $190 per ounce, fluctuating up and down at this price.Although it is not completely sure that the gold price will pull back at this time, there is a small possibility of a rebound and a rise, but relatively speaking, the possibility of a decline is higher.

Lin Baicheng did not short the rest of his funds just because the price of gold fell to around $190 per ounce. He knew very well that the price of gold would definitely go up in the long run, but now it is only possible to continue to pull back and fall in the short term. He will not continue to take risks to go short. There is no need for that.

By this time, Lin Baicheng no longer paid attention to the changes in the gold price, but asked Isabella to arrange someone to pay attention and report to him when the gold price suddenly dropped or rose sharply.Usually, he only needs to pay attention once a day.

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(End of this chapter)