It turns out that Song Zihao hadn't been idle these past two days.
He spent a large sum of money to bribe several newspapers, demanding that they publish the article he personally wrote about the Fed's interest rate hike and the subsequent plunge in gold prices, according to his own instructions.
But now is clearly not the right time.
Shen Dong asked, "What's our average price now?"
Song Zihao said, "Eight hundred and ninety-four US dollars."
Shen Dong nodded and said, "Ah Hao, if they can push the price of gold up to 980 US dollars, we'll go all in."
In his previous life, the price of gold never exceeded nine hundred US dollars. He never expected that this time, because of his own butterfly flapping its wings, the price of gold would rise to nearly one thousand US dollars, which was a complete surprise to Shen Dong.
Haha, I'm afraid the Federal Reserve must be getting anxious seeing gold prices rise to this level.
In the afternoon, gold prices continued to rise, reaching $962 at the close.
The price rose from $872 per ounce to $962 per ounce, the largest increase in nearly a decade.
Shen Dong's traders were worried and not optimistic about this short-selling of gold futures.
However, Shen Dong was not worried at all, and the smile on his face never stopped.
He currently holds gold at $894. For those institutions to force Chen Dong to liquidate his position, the price of gold would have to break through $1,100, which is virtually impossible.
Moreover, he also has short positions worth 15 billion US dollars.
If it's sold at $980, the other party will have to push the price up to at least $1300.
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