But then, in November 2008, the Federal Reserve announced the first round of quantitative easing, the famous QE1, and repurchased approximately $1.35 trillion in government bonds, mortgage securities and other "toxic assets". The international gold price, like the international oil price, immediately began a comprehensive upward trend. Before the second round of quantitative easing, QE2, was launched in August 2010, the gold price had climbed to around $1,386 an ounce due to the weakening of the US dollar and the Greek crisis.
With the outbreak of the Libyan war in February 2011, on August 5 of the same year, the international rating agency Standard & Poor's announced that it would downgrade the US sovereign credit rating from AAA to AA+, with a negative outlook. This was the first time in history that the United States lost its AAA credit rating. Subsequently, the gold price launched its most violent offensive, and in just 20 trading days, the gold price had reached its historical peak of $1,920 an ounce.
Finally, after touching the high point of $1,920, the international gold price began to dive...
Looking back over the twelve years since the beginning of the new century, the trend of international gold prices has been almost the same as that of international oil prices.
However, compared with the international oil price which started to rise in 2003, although the international gold price recovered earlier, before 2006, there was nothing to hype about the international gold price for the Dragon Fund.
The Dragon Fund specializes in speculating in black swan markets, so its speculative activities on international gold began at the end of 2005. Then, just like international crude oil, from the beginning of 2006 to 2012, the international gold price also experienced two waves of sharp rises and falls. This was a good time for the Dragon Fund to take action.
Pacific Capital, controlled by David Anderson, has long been sharpening its knives. Two and a half years after the start of the international crude oil market, Pacific Capital quietly joined the international gold market with huge funds! Of course, the huge amount of funds of Pacific Capital is still "international hot money"...
It’s all the work of international hot money!
Continue read on readnovelmtl.com
