In fact, everyone made more than 50% of the profit, because gold futures are leveraged, even if calculated at the lowest 10%, they made more than 500% profit during this time.

If they increase the leverage through the broker, I am afraid that the return can exceed 1000%, which is absolutely a terrifying astronomical figure.

That is, if they had bought a long gold contract with $100 million in cash at that time, with 20 times leverage, then the price of their contract at that time was around $2 billion, and now it has risen by 50%, which is about $3 billion. After closing the position, he made $1 billion, which is exactly 10 times his principal.

Of course, this is almost impossible to operate, because the leverage is too large, the danger is unimaginable, and the slightest drop of 5% will immediately blow up the position.

But no matter what, it is an indisputable fact that everyone has made a lot of money.

However, as soon as they remembered Zhong Shi's operation at the beginning, everyone's original joy was stagnant, and they all looked at Zhong Shi with strange faces.

When he first entered the gold market, everyone seemed very hesitant, but Zhong Shi was extremely resolute and even took out $20 billion to enter the market. Of course, according to the general operation, it is impossible to convert all these funds into contracts, after all, some additional reserves are required. But even if it is calculated on the basis of 50% of the position, it means that Zhongshi has earned 5 times the profit, that is, 50 billion US dollars.

When they thought of this number, everyone couldn't help but be a little crazy.

Among those present, the only one who could rival Bell Stone in gold was Paulson, because he had an aggressive style and dared to increase leverage, and the total return should be between $20 billion and $30 billion. But the ultimate problem is that a large part of this part of the funds comes from the client's entrusted management funds. Paulson receives between one-quarter and one-fifth of that through his own share and commission. But Zhongshi's funds are basically included in his own pocket.

There is no way to compare!

"Isn't there a possibility of another rise?"

After pondering for a long time, Ackerman finally asked reluctantly, "Wouldn't it be better if we could have escaped at the highest point?" ”

Accompanied by his question. The eager eyes of several other people also projected on.

Although they are fund managers with a high degree of professionalism, they are quite uneasy in the face of such big interests, and greed prevails, which is the weakness of human nature.

"Of course, there is a possibility that it will continue to rise!"

Zhong Shi pondered for a while, then came to his senses and said with a smile, "I was negligent in this. Based on my current position, it is obviously unlikely that I will be able to sell it out in a moment, so I intend to close it now. But you're not the same as I am. After all, the positions are different. ”

"In the third stage, I intend to hype up the market's expectations for QE, so that the dollar will inevitably fall, and the momentum of gold will continue, but the problem is that it is difficult to predict how long this momentum may last, maybe a week, maybe a month. But in any case, gold's continued rally in the near term should not be reversed. You should choose the time to close your position according to your position. These are my heartfelt words. ”

"So how much will the price of gold rise according to your judgment?"

Griffin also asked out loud at this time. "The price is $1,700 right now, and you think it's possible to break through $1,800 or even $1,900, and maybe $2,000 isn't impossible."

If it can break through to $1,900 or even $2,000, then the increase is close to 100%, and all this was done in just over a year, and the price of gold has not only risen to a record high. And it has become the world's brightest performing market.

But by this time, anyone can see the bubble and the risks, even if it is an ordinary speculator.

But even so, there is a kind of optimism about the situation among well-known hedge fund managers, such as Kenneth. Griffin.

"$2,000 is impossible!"

Zhong Shi vetoed without hesitation. "At $2,000 an ounce, are you crazy? What is this price supported by? Give me a reason to convince me! ”

“……”

Griffin's face turned red suddenly, and he pursed his lips for a long time, but finally he didn't say a word.

He could naturally understand the meaning of Zhong Shi's words, and the greed in his heart was ruthlessly broken, which made him feel a rare sense of shame.

"If I follow my speculation, the price of gold will rise to $1,900 at most!"

After a slight pause to let everyone digest their emotions, Zhong Shi continued, "In recent days, the short-term positive combination has given birth to the current situation of soaring gold, but these benefits are short-term effects, and after the market fully meets expectations and the speculation fever subsides, the price of gold will enter a reasonable adjustment, which no one can deny." Now the price has detached itself from the fundamentals, and I believe we all have a clear understanding of this. So if you want to continue to hold it, I have no objection, but after it exceeds $1,800, you must consider opening a position. ”

"Not everyone can escape from the highest point! If there is something bad at that time, and the trading volume shrinks rapidly, then these positions will rot in their hands, and everyone should know this truth better than me! ”

After giving everyone a hard lesson, Zhong Shi asked again, "Gentlemen, do you have any questions?" If not, that's the end of today's meeting! ”

There was no doubt that Zhong Shi said these words with some emotions, but at this time, where did everyone dare to refute, and immediately stood up and left one by one.

On August 17, the price of gold still rose slightly, but because of a large number of intraday changes, the rapid upward momentum did not last long, and finally only rose slightly by $8.7 throughout the day.

That same night, a rumor appeared in the market.

The Federal Reserve is considering implementing the QE3 program.

The so-called QE3 is the third quantitative easing. At the beginning of 2000, in order to stimulate the economy, the Fed officially launched the first phase of QE, followed by the second phase of QE in 05, and now if it is implemented again. That's the third installment.

Since 07, in order to save the real estate market and the U.S. economy, the Federal Reserve, together with other central banks around the world, has repeatedly cut interest rates and injected liquidity into the market, and as of today, the interest rate level in the United States has been unreducible, approaching 0%. During this period, the monetary policy of the United States entered a vacuum. However, according to the economic data feedback in the past few months, the momentum of the recovery is not as good as originally expected. Therefore, it is imperative to continue monetary policy in the next step.

But at this point, there's really a limit to what the Fed can do.

Therefore, the news that the Federal Reserve will implement QE again was immediately hyped by the market, although there was speculation from all parties before, but this is not an official statement after all. But the rumor is conclusive that Bernanke will announce plans for the US to implement QE3 at the annual meeting of global central banks on August 24.

At the same time, the news also said that the ECB is considering the possibility of implementing QE. There are many reasons for this, including the slowdown in the European economy in recent months and the fact that the European debt crisis is still cloudy. Simply cutting interest rates and injecting liquidity into the market will no longer be able to revive the economy. The ECB's committee has met several times to discuss factors such as the possibility and scale of QE.

These two pieces of news shook the market at once.

The rumors wouldn't have taken the market too seriously, but just hours before the news broke, the US Federal Reserve's policy-setting meeting scheduled for September was postponed, which was seen by market watchers as the Fed seeking time to roll out more measures. With the outbreak of these two news, the speed of the market's trust in these two news has been greatly accelerated.

If QE is to be implemented, it will inevitably take time for the Fed to negotiate more with Europe and even Asia. After all, the game on interest rates is global.

It is well known that once QE is implemented. It means a decrease in long-term interest rates and an increase in liquidity in the market, which to a certain extent reduces the competitiveness of the dollar, while gold, which is negatively correlated with the trend of the dollar, is fully positive, so stimulated by this news, the price of gold has increased incredibly the next day.

August 18th. Gold rose another $28.2, or 1.57%, to break through the $1,800 mark and seal at $1,822.

This is also because of the large number of intraday reels, otherwise the speed of gold's rise would be even more crazy.

But that's the rate of growth. It also contributed to the irrational atmosphere of the market, in the following August 19, the gold market once again poured into a large amount of money, despite the huge amount of intraday turnover transactions, but the already crazy speculators where will care so much, what they did was crazy to buy buy, in the influx of a large number of over-the-counter funds, the price of gold rose again by $30.2, breaking through the $1,850 mark.

The two-day rise of more than $50 is a staggering rate, and many gold traders have said that this is the first time they have seen a similar situation in their careers.

However, this fever has not stopped, on August 22, the price of gold rose again, almost all the world's funds have poured into the gold futures market, and there was a single amount of more than 500 million US dollars in the intraday turnover plate, but under the crazy chase of funds, these turnover plates were still eaten unharmed, which made many traders feel afraid.

Yes, it's fear!

Experienced traders have experienced the frenzy of the market, but such a frenzy is the first time they have encountered, the price of gold rose more than $100 in three days, and the white candles rushed out one after another, it is obvious that this is an obvious bubble, but with the support of a steady stream of funds, no one knows when it will be the end, and no one knows what the market will be like after the tide recedes.

On the same day, the price of gold soared by $39.7 again, closing at 1,892 points, just one step away from the 1,900 mark.

For three days in a row, the price of gold has risen by more than $100, which is unprecedented in history.

On August 23, a historic scene happened, at the opening of the COMEX gold price stood at the 1900 position, directly up from the previous day's closing price of $9, and it did not even need to be bullish to break through expectations.

The market went crazy!

Originally, many bulls thought that the bears would set up a little defense in this position, but the reality told them that the bears were simply vulnerable, and they couldn't even snipe at the opening. When a large amount of money frantically poured into gold futures again, even the markets of silver and platinum were also impacted.

In just half an hour of trading, the price of gold rose by $11 again, reaching a staggering $1,912, and it continues to rise, completely turning into a wild horse.

It was at this time that the biggest bearish for the market finally appeared.

The CBOT exchange announced that it will raise the minimum margin for gold to $5,500 from the previous $4,500, and COMEX announced that it will increase the minimum margin for gold speculators from 15% to 22%, which is the second time in a month that COMEX has raised the margin ratio.

The message will be officially implemented from tomorrow.

Even the exchanges could not stand the frenzy of gold futures, and in order to resist the risk and curb excessive speculation, they had to announce an increase in the minimum margin ratio during the session. (To be continued.) )

PS: Thank you book friend for his reward from her heartbreak my heart and gengsu! Thank you for your active support, I hope there are more book friends who can support this book, the author is grateful~ I'm going to move soon, there are a lot of trivial things recently, and I will do my best to update things, so you'd better not forget to vote~