Although it is a trading platform, because it is a leveraged operation, the exchange is also risky in terms of settlement. For example, during the stock market crash in '87, Hong Kong's stock index exchange could not be delivered normally, and later had to set up a special equalization fund. In the event of a large-scale default on an exchange, its credibility plummets, as has happened in history.

The first is to curb excessive speculation, and the second is to avoid the risk of its own settlement, so under the interaction of these two factors, COMEX announced that it will increase the margin at this time.

In fact, not only the exchange itself, but all the media and people around the world who are related to investment are talking about what is happening in the gold market. Over the past three weeks, the price of gold has risen by almost $300, a phenomenon that is extremely rare even in the history of futures.

Finally, when the gold price broke through $1,900 today, the exchange finally made a move.

Although it will be implemented tomorrow, the intraday gold price has taken a dive. After barely reaching $1,918, gold began to turn sharply and fell straight down at a speed comparable to free fall, and it took only ten minutes to fall below the $1,900 price.

Then 1890, 1880, 1870 and other prices were broken through, the price once fell to $1826, compared with the highest price fell close to $100, but before the close, the subject of tomorrow's global central bank meeting was brought up again, which narrowed the decline, and the final quotation closed at $1861, down $30.6 compared with yesterday, a decrease of 1.62%.

However, this was not the end of the volatility in the gold market, as Bernanke said something that puzzled everyone at the global central bank conference the following day. Once again, it shook the gold market.

At a time when the world thinks that the Fed may implement QE3 or that it will implement QE3, Bernanke's statement presents a cloudy attitude, that is, he neither denies that the Fed may implement QE, nor does he admit that the Fed intends to implement QE. In short, it's an attitude, you outsiders are free to guess and interpret, anyway, he hasn't made any guarantees.

Politicians are meant to be like that. Speech is vague, makes the market elusive, gives you neither hope nor despair, and that's exactly the art of their talking.

But in the gold market, this statement means that expectations have been shattered, because the most important driver of the rise in gold prices is that Bernanke will announce QE-related news at this meeting, and the market will be in turmoil for a while.

Gold futures opened as low as $30 on the day, and then gold prices went all the way down. Soon, it did not even hold the $1,800 mark, and fell directly into the $1,700 range, and finally plummeted by more than $100 throughout the day, a decline of 5.59%.

The two-day market formed a very clear peak trend, and the market reversed sharply.

But for many bulls at high and halfway up, this market is undoubtedly intolerable to them, because it means that they have suffered significant losses, knowing that the rise is fast. By the time they entered, the cost had skyrocketed to around $1,800. Leaving the market now means that they are going to lose a lot of money.

So the unwilling bulls regained their power in the following trading days, pushing the price of gold to around $1,900 again in the next eight trading days, and then began to slowly reduce their positions, and finally by September 21, the entire gold market lost the support of the main force, and finally began to fall like an avalanche. It plummeted by more than $200 in three trading days, completely ending this magnificent market.

Naturally, that's all for later.

On the day of the announcement of the margin increase on the 23rd, after the market was over, several people got together again. Discuss the current market.

"God, this is crazy!"

"I was going to close the position at $1,750, but the market was going up just too fast. By the time I had fully liquidated my position, it had risen to $1,850 and I almost didn't escape. ”

In the last meeting, Ackerman also said that he would flee at the highest level, but the market reacted much faster than his reaction, as the so-called plan is not as good as change, if it were not for the immediate decision and Zhong Shi's reminder, I am afraid that his position would be rotten in his hands now.

Of course, at the price at which he opened his position near $1,100, there would be no loss anyway.

"Yes!"

At this time, Griffin's gaze at Zhong Shi changed, from the initial disbelief to complete convincing, "My $1 billion position made more than $3 billion in profit when I closed the position, which is enough to ensure that my yield this year reaches more than 30%, this is the most profitable transaction I have ever operated, there is no one." ”

"I also made $8 billion!"

"If I had opened a little more position, this number would have more than doubled by now. It's a pity that the opportunity is fleeting and will not come again. ”

"Mr. Zhong, how much money did you make?"

When it comes to profits, although everyone sighs, their hearts are full of joy, because the huge profits brought to them by this transaction are enough to ensure their performance this year. There are even a lot of their own money, which does not need to be distributed to investors at all, so they are very excited in their hearts at the moment.

Although they were excited, they still had a question about how much Bell Stone and Tianyu Fund, as the leaders of the whole thing, had earned.

You must know that Zhong Shi said that he would invest a huge amount of $20 billion in funds, and according to the comparison between the estimated rate of return and their own situation, they could earn at least about $50 billion.

"Not as many as you think!"

Looking at the eager gazes of several people, Zhong Shi smiled and waved his hand, "The price at which I closed my position was about $1,750, and the market was too eager to pursue the bulls, so even though my position was very large, it was successfully cleared within four days." Combined with the cost. The profit earned is around $40 billion. ”

"Ah......h

Even if it wasn't as much as expected, Zhong Shi's words still caused a gasp, after all, the number was too large.

Of the few, only Paulson was thoughtful and didn't show much surprise.

In fact, Zhongshi earned more than that, because of the addition of some leverage. In addition, the accurate prediction of the price trend allowed him to control the price of his closing position at around $1,800, and he finally earned $63.48 billion.

The reason why he didn't say it was because he was afraid that the number would be so appalling that it would be spread out and cause some kind of disaster.

Paulson made more than $20 billion in profits in this wave of the market, and according to his estimates, Bell Stone will not be less than twice as bad as him. So when Zhong Shi said 40 billion US dollars, he secretly moved in his heart, knowing that Zhong Shi did not tell the truth.

"What are we going to do now?"

Paulson deliberately diverted the conversation. Subconsciously guided, "Now that the bubble in the gold market has begun to emerge, if nothing else, there will be a sharp drop tomorrow, in this case, should we consider shorting moderately and making another profit?" ”

If nothing else, gold's rally should end here, and then return to around $1,500 as the short-term tailwinds disappear. The market will return to rationality and order.

And in the process, the price of gold will inevitably fall. Take the opportunity to do the reverse operation again, I believe you can also make a lot of profits. Of course, it is absolutely impossible to compare with the gains of their previous wave.

"If you want, you can join in!"

Zhong Shi still has an indifferent attitude, "There may be a short-term decline, or there may be an increase." After all, Bernanke's statement tomorrow will not be biased towards either side, he will only use vague words to perfunctory the market, because he knows very well how his unmistakable statement will cause the market to shake. ”

"But that's fine, it's not bad for either the bulls or the bears. But for institutions that want to take a gamble on QE. That's what kills. Now it depends on whether they have the ability to follow-up, re-heat the market, raise the price of gold again, and let the follow-up people take over! ”

"If I'm not miscalculated, after tomorrow, the volume of the market will shrink sharply, and then the news will be as frequent as ever, and then it will either rise slowly or fall slowly, and then one day, the market will suddenly have a violent rally, and in the short term it will reach the expected level. In this way, the main bulls will escape smoothly, leaving a mess for unknown investors. ”

Everyone looked at each other, not knowing what to say for a while.

"Speaking of which, we were the main force of the first batch, and then we attracted the second batch of people into the market, and we managed to put them in the high position. But this group of people has the ability to eat our position, which shows that they are definitely the masters with strong financial resources. I don't think they would have dared to enter the market so rashly if they hadn't prepared a plan. ”

Looking at the stunned crowd, Zhong Shi shook his head helplessly, "After this stroke, we should rest for a while, gentlemen, don't you think the limelight is too strong?" ”

"Perhaps!"

When everyone was complacent, they wanted to do it again, but since Zhong Shi was unwilling, they had no better way, so they immediately nodded in disappointment, and after gossiping for a while, they dispersed one after another.

……

"Are you sure it's him?"

At this time, Andrew was far away in Washington. Brian, with a solemn front, listened to the report of a man in black.

"Yes, we're sure!"

The man in black bent down slightly, and said respectfully, "While defending them, we noticed that there was often a strange person following them, so our agents used a little trick to catch this person, and under questioning, he told us that he was hired by someone else to secretly follow the object of our protection. ”

"Didn't he say what his employer was going to do?"

Andrew. Brian frowned, and then asked, "Is it a competition between peers, or is there some other purpose?" ”

"This ......"

The man in black paused, thought for a moment before replying, "According to the records we asked, he doesn't seem to know about this, which is also in line with our judgment, after all, he is just a pawn, and it is up to his employer to judge what to do later." ”

"Alright, I got it!"

Andrew. Brian waved his hand and motioned for the other to step back.

When the office was quiet again, he thought about it again and again, and then pulled out a folder from the drawer and pulled out a photo, which was Bell Stone.

"Immature wolf cubs!"

After staring at Zhong Shi's photo for a long time, Andrew . Brian's eyes flashed with fierceness, "Originally, it was just a tool, but it was so bold as to challenge the U.S. government, I think the others are just obeying your wishes." If that's the case, then you're not of much use to us. Originally, I wanted to solve you, but now your enemy Soros has actually appeared, and there is just one more scapegoat. Hahaha......"

Before he could finish his sentence, he began to laugh maniacally. (To be continued.) )

PS: Thank you to book friends huangzhou, 8254814, book friends 160315221917449, and roaring wasters for voting for monthly tickets! Thank you for the tipping of 555@555! After adjusting the state and finally writing a chapter, it feels more and more difficult, thank you for the support of so many book friends yesterday, I am grateful~