Reborn Xiangjiang as a Tycoon

Chapter 153 Gold price correction

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

Lin Baicheng is not disappointed with this either. This is just like stock trading. It is almost impossible to sell the stocks in your hands at the highest price. Being able to sell them at a relatively high price is already very good.

Because the turning point of the gold price is likely to be in the past 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 put his work aside for the time being.

The staff who were called to the United States to develop the "Tank Battle" game by Lin Baicheng began to come to the United States one after another. Lin Baicheng had asked Isabella to arrange residence and office space for these employees. Isabella was temporarily responsible for this.

Sabella arranged for him to go over and meet these employees in two days.

the next day.

When the gold price rose to 197.46 US dollars per ounce, it began to fall. It fell as low as 193.62 US dollars per ounce in half an hour, and then rebounded to around 195 US dollars per ounce, ranging between 194.5 US dollars per ounce and 195.5 US dollars per ounce.

Shock.

Even though it only dropped less than 4 US dollars per ounce, the drop was quite significant. The lowest point dropped by nearly two points from the highest point. If someone used five times leverage, it would be a drop of nearly ten points.

If someone used ten times leverage, it would be equivalent to a loss of nearly twenty points.

When it fell back down, it was very fast. When Lin Baicheng, who arranged for people to watch the market, got the news, the gold price had fallen to 196 US dollars per ounce. By the time he contacted London, the gold price had fallen below 195 US dollars.

/ ounce, it fell so fast.

However, Yuan Tianfan and Anyuan in London told Lin Baicheng that they decided to sell the delivery order when the price was 196.5 US dollars per ounce, and they sold it at a price lower than the market price, which was a one-time price of 196 US dollars per ounce.

After selling, a large number of long orders were accepted, so the sales were quite fast, 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 you want to sell it quickly, you must do this. This time in London, Lin Baicheng gave Yuan Tianfan the authority to take the lead, and Yuan Tianfan made the decision.

How to operate, Anyuan only needs to determine that Yuan Tianfan has not seriously harmed Lin Baicheng's interests.

Yuan Tianfan's ability is indeed stronger than Anyuan. Lin Baicheng will definitely not choose to have Anyuan take the lead in the operation. After all, he will not have trouble with money.

After contacting London, Lin Baicheng contacted Tokyo. Because Lin Baicheng specifically told Maori Haruko to keep an eye on the trend of gold prices these days, Tokyo also sold delivery orders, and they also started selling when they fell to around US$196.5 per ounce.

Yes, it's just selling while falling.

Sell ​​while falling, and sell according to the current price. Although there are many orders, the time is naturally not very fast. Fortunately, the total amount in Tokyo is relatively low. The amount after financing is only 100 million US dollars, and finally the price is 196.15

Sell ​​all delivery orders at the average price of USD/oz.

After selling, I started shorting, and still spent 100 million US dollars on shorting. However, because I sold late, I opened the short order later.

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

First, in London, all long futures were sold at a price of 196 US dollars/ounce, and the cost price was 188 US dollars/ounce. Calculated with a capital of 750 million US dollars, a profit of nearly 32 million US dollars was made. Afterwards, the short position was

Because Lin Baicheng had a relationship with him, so

We still use US$750 million for short selling, and the average short selling price is US$195.75 per ounce. This is mainly because the amount of funds of US$750 million is not small, and there is no way to close the transaction at once. Unless we also use a higher price for short selling this time, it is almost the same, but

Yuan Tianfan did not do that.

I earned nearly 32 million U.S. dollars from long positions. After deducting the handling fees for long and short positions, I was left with only 31 million U.S. dollars. This money also became a margin. In this way, plus the original 150 million U.S. dollars in margins, now

This short-selling fund has a margin of US$181 million. As long as the price of gold does not increase by more than 24%, the position will not be liquidated.

Then in Tokyo, the US$100 million long futures were sold at an average price of US$196.15 per ounce. The cost of buying at that time was US$189, making a profit of nearly US$3.8 million. After deducting the handling fees for long and short positions,

, which is equivalent to making about 3.5 million US dollars.

In terms of short selling, we still use 100 million U.S. dollars for shorting, and the cost price is 195.1 U.S. dollars/ounce. This is because the operating capital is only 100 million U.S. dollars, otherwise the cost price will only be below 195 U.S. dollars/ounce, obviously because the short time is too late.

So the cost price is much higher than that in London.

Although the margin for this short-selling fund is only 1,350 US dollars, and the position will be liquidated if the price drops by more than 13.5%, Bailong Commercial Association still has 20 million US dollars in funds to replenish the margin, so the funds here do not have to worry about liquidation.

question.

The current price of gold is range-bound at $195/ounce, and it is not entirely certain whether it is going back down and adjusting. The current trend may be a correction to accumulate strength to break through the pressure level of $200/ounce. It may also be true.

It's about to pull back. The current range fluctuation is just to lure bulls. If short sellers want to eat meat, they certainly hope that more long orders will enter the market at this price.

Whether it will surge higher or fall after a correction mainly depends on the game between the long and short sides, and which side's big funds are stronger. Both retail investors and small institutions follow the big funds. If the trend is upward, they will go long, and if the trend is downward, they will go short.

.

Lin Baicheng will pay attention to whether the price of gold will rise or fall in the future, but he will not have any worries in his heart. If it rises, he will only make a little profit, and he will make it back later. If it falls, he will not do short selling this time.

Wrong, the other part of the immobile funds will lose money, but the subsequent long-term trend will not change, and you will still make a lot of money.

Two days later.

The price of gold fell to around 190 US dollars per ounce, and it fluctuated up and down at this price. Although it is not yet completely certain that the price of gold will correct, and there is a high possibility of a rebound and higher, relatively speaking, the possibility of a decline is higher.

Lin Baicheng did not use the rest of his funds to go short just because the price of gold fell to around US$190 per ounce. He knew very well that the price of gold would definitely rise in the long term, but now it is only possible that it would continue to fall back in the short term. He would not continue to risk going short.

That's not necessary.

By this time, Lin Baicheng no longer paid attention to the changes in gold prices. He just asked Isabella to arrange for someone to pay attention and report to him when the gold price suddenly fell or rose sharply. Normally, he only needed to pay attention to it once a day.

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(End of chapter)