Hearing what his four men said, Cesar Cook pondered for a long time before gnashing his teeth and saying, "Okay, since you all agree to do this, we will clear our positions tomorrow, and then each of us will invest another $100,000 to build a full position at the highest ratio."
Hearing Cesar say this, several team members excitedly high-fived each other, as if they had already made a huge profit tomorrow.
No wonder they are like this now. It only took Mr. Smith four hours of trading time to go from disbelief at the beginning to complete conviction today.
Cesar and his team personally carried out this miraculous operation, with a net return of more than 500% in one day, which was something they had never dared to imagine before.
Although their return on the international gold market last year was as high as 280%, which is a very proud result, compared with Mr. Smith's means today, their profit is not worth mentioning at all.
One took a year to make a profit of 280%, and the other made a profit of more than 500% in just four hours! How can you compare? There is no comparison!
Unfortunately, Cesar and the others never expected that this was just the beginning of Mr. Smith's actions, and the real madness was still to come. After they fully witnessed Mr. Smith's crazy methods, the five of them regretted it again.
In Cesar's words - if we had known that London Gold would be so crazy, we should have gone all out! As a result, because of our caution, we missed the best opportunity to become billionaires...
The next day, January 3, 1980, the price of London gold skyrocketed. At the close of the afternoon, the closing price stood firmly at a high of $634 per ounce. In one day, the international gold price soared by $86 per ounce! In two days and eight hours of trading time, Yang Jing's net profit per ounce of London gold he purchased was as high as $116 per ounce!
Although Cesar and his five friends each took out $100,000 and opened a position with a leverage ratio of 1:100, they could not buy much London gold with only $50 million in controllable funds. Moreover, Cesar and his friends were caught off guard by the crazy rise in international gold prices today. In the end, their opening cost was as high as $598 per ounce, which was $80 per ounce more than Mr. Smith's opening cost.
However, the profit of up to 36 US dollars per ounce also made Cesar and his team smile. They controlled 50 million US dollars of funds and fully invested in 80 lots of London gold, that is, 8,000 ounces, and the net profit for one day was close to 300,000 US dollars!
London gold exploded with unparalleled energy in the first two trading days of the new year, and the huge bullish force caused the gold price to soar.
During the ten or so trading days, although the price of gold fluctuated slightly, it did not affect Yang Jing and Cesar and others.
What makes them even happier is that in the face of this crazy surge in gold prices, the low market IQ of the world's major central bank governors and financial leaders has been exposed. Because before this, in order to stabilize the international gold price, major central banks were desperately selling off their gold reserves. For example, the U.S. Treasury Department auctioned a total of 6% of the Federal Reserve's gold reserves.
Now, facing such a strong gold bull market, they have begun to talk about restoring the traditional role of gold in the monetary system. The typical example is US Treasury Secretary Miller. On January 16, 1980, he announced that the US Treasury would no longer use the method of reducing gold reserves to stabilize the gold price. As a result, less than half an hour after the announcement, the international gold price soared by $30/ounce, directly breaking through $700/ounce, and stood firmly at the high point of $715/ounce at the close!
The next day, January 18, the international gold price directly broke through $800 per ounce; then after the London gold market was closed for two days, Saturday and Sunday, when it opened on January 21, the gold price continued to rise, quickly approaching the historical high of $850 per ounce!
At this time, Yang Jing's 52,000 lots of London gold had a profit of nearly US$300 per ounce, while Cesar and his friends' 80 lots of London gold had a profit of more than US$210 per ounce.
In just twenty days, Cesar and his team alone made a profit of up to 1.7 million US dollars!
Both Cesar and his four teammates were full of admiration for the mysterious Mr. Smith. While they were enjoying huge profits, they were also deeply annoyed.
If I had been a little bolder and invested a little more before the market opened on January 2, my profit would probably be more than 1.7 million.
Taking a step back, even if everyone contributed $200,000 when the decision was made to fully invest in the position for the second time, each person could now get $580,000!
As a team that has been working in the London international market for five or six years and made a profit of 280% last year, the five of them actually have some money in their hands.
I wouldn’t dare say that one person can come up with one million dollars, but it is definitely no problem for one person to come up with half a million dollars.
If they each took out $500,000 on January 3rd...
But now they regretted it, but there was nothing they could do. After more than 20 days of crazy rise, even Cesar and the others were a little scared.
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