With 27 million dollars of funds, using the principle of leverage, the maximum amount of speculation funds in the gold market can be controlled is 2.7 billion dollars. This number may sound like a lot, but compared to the current daily trading volume of 1.6 trillion dollars in the London gold market, this amount of funds can't even make a splash, and there is no need to worry about some financial tycoons eyeing this money. However, for the sake of safety, Yang Jing still asked Mike Allen to prepare more than 20 accounts, each of which can control more than 100 million dollars. This amount of money is just a retail investor in the London gold market. Although it is dispersed, it is safer.
On the previous trading day, which was the last trading day of last year, the spot price of London gold closed at US$512.32 per ounce. Therefore, after the market opened, the five traders bought in full at the price of US$518 per ounce set by Yang Jing. Since the price was relatively high, their positions were quickly filled.
The contract unit of London gold is 100 ounces, that is, one lot contains 100 ounces of gold. At this time, the 2.7 billion US dollars controlled by these more than 20 accounts were deducted from the spread of 0.5 US dollars per ounce when buying, and bought at a price of 518 US dollars per ounce. After the full position was filled, a total of 52,000 lots were purchased, that is, 5.2 million ounces of London gold!
Cesar Cook had some objections to Yang Jing's bold and aggressive move to buy all the gold directly. After all, such a radical move would be suicidal if it were done in a normal way. As long as the international gold price fluctuated even a little, all the gold in Yang Jing's hands would be immediately closed, and he would instantly be burdened with a debt of 2.7 billion US dollars.
Once such a situation happened, Yang Jing would have no choice but to run away or jump off the building.
Of course, Cesar didn't know that Yang Jing also had the most shameless and effective method of running away. Therefore, although Cesar raised his objections, under Yang Jing's tough attitude, he could only follow the orders helplessly.
PS: I would like to thank "Zi Yan Tian Jiao" for the reward of 500.
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