Chapter 34 Gold Spot Arbitrage



Bao Junyi woke up and started moving. In fact, Lucy had also woken up, but she was shy, so she pretended to be asleep and continued to lie on her stomach. The blush spread from her face to her neck.

However, when Bao Junyi remembered and tried to move Lucy, she immediately opened her eyes, picked up the quilt to cover her eyes in shock and asked, "What do you want to do?"

"Are you hungry? I'll ask the waiter to bring some food." Bao Junyi said awkwardly.

"Yeah, go ahead."

Lucy continued to bury herself in the quilt, her face flushed from her neck to her ears. She worried inwardly, "Why did I get so caught up in it last night? My whole body aches. Why do I have no strength left?"

Bao Junyi got up and found the floor full of torn clothes thrown everywhere.

Helplessly, he asked the waiter to bring some food and also asked to buy a set of clothes for each man and woman.

An hour later, the two got dressed, got up and ate something.

Suddenly, Bao Junyi noticed a circle of red marks in the middle of the bed sheet. Seeing Lucy limping, he knew that this was Lucy's first time.

The two of them ate the food brought by the waiter. Lucy didn't dare to look up at Bao Junyi and kept eating with her head down.

Bao Junyi said helplessly: "Lucy, I will take responsibility. You decide when to go and take me to your house to meet your father. As a man, I will take responsibility for what I have done."

Lucy shuddered after hearing this and whispered back, "Okay...Okay."

It was already afternoon when the two left the hotel.

As soon as they left the hotel, they ran into Diana coming in. They were both stunned and became nervous.

Diana said resentfully, "Bao, I've been looking for you for a long time, worried that something happened to you."

"Lucy, you too, were with Bao and didn't tell me. You made me worry."

Lucy said embarrassedly: “Anna, I just met you too. I drank too much last night and just woke up now.”

"Well, your brother and John drank too much last night and are not feeling well this morning. So, I want to inform you that the meeting will be rescheduled for tomorrow."

"Okay, Anna, you drank so much last night, are you okay?" Bao Junyi asked worriedly.

"It's okay. I drank too much last night and my head still hurts a little. It's nothing serious."

However, Lucy stood silently by and did not dare to speak. She was very conflicted inside. After all, she had stolen her best friend's boyfriend. Now she met Diana, his real girlfriend. Although they had not confirmed their relationship, she could only follow him with her head down out of guilt.

Suddenly, a voice came from the side: "Lucy, you..."

Diana noticed that Lucy was limping and wondered if something had happened to her.

"Lucy, are you feeling unwell? Do you want me to take you to the hospital?"

"No...no, I drank too much last night and sprained my ankle." Lucy replied nervously.

"Bao, Xixi has difficulty walking, why don't you be a gentleman and carry him to the hospital?" Diana said resentfully.

"this..."

"Anna, no need. I'll just go back and rest. You guys chat first. I'm going home."

Lucy was very nervous, afraid that she might notice something, so she quickly found an excuse to leave.

"Okay then, be more careful next time."

......

Ten days later.

May 6, 1974.

Bao Junyi attended more than a dozen meetings on the listing of Miracle Games on Wall Street, large and small. In the end, Miracle Games issued 20 million shares of a total share capital of 100 million shares, accounting for two-tenths of the total share capital, at US$40 per share. JPMorgan Chase was the main underwriter for the listing, and the company rang the bell on the New York Stock Exchange two months later.

During this period, after dealing with the listing issues, Bao Junyi went to Morgan Bank again.

The gold spot certificates of deposit previously purchased for US$120 million at US$38 per ounce, as well as the gold spot certificates of deposit purchased for US$300 million at US$86 per ounce with a 20x leverage, were both sold.

At present, the international gold price is US$280.16 per ounce and is still maintaining a high-speed growth stage. This is mainly due to the impact of the international economic environment, coupled with the Middle East war and the oil crisis. Now developed countries are in stagflation or economic recession.

As a result, precious metals gold and silver were sought after by safe-haven funds, which also ushered in a decade of rapid growth in the gold market.

Bao Junyi bought 120 million gold spot certificates of deposit at US$36 per ounce and sold them at US$280.16 per ounce, making a profit of US$882 million.

In addition, 300 million US dollars with 20 times leverage, 6 billion US dollars of gold spot certificates of deposit, bought at 86 US dollars per ounce, sold at 280.16 US dollars per ounce, and made a profit of 13.83 billion US dollars.

After deducting the handling fees, leveraged capital principal and high interest, the two orders made a total profit of US$14.28 billion.

Morgan Bank's sales through international financial channels caused sharp fluctuations in the spot price of gold. Fortunately, due to the influence of the international environment, various countries were also buying gold, and the gold was digested within three days of being sold. However, in the financial circle, especially Wall Street, everyone was curious about which fool was selling such a large amount of gold.

However, Bao Junyi didn't know this and was thinking about how to advance the project later, but the money was still not enough to realize the later project.

After Bao Junyi made a profit, he paid the US Steel Company a 30% down payment, a total of 1.4 billion US dollars, and the company's account funds amounted to 12.88 billion US dollars.

At present, Bao Junyi still has the last 800 million US dollars with ten times leverage, and he can enter the market at 130 US dollars per ounce. Now the funds are sufficient, and he can only wait for the listing of the US COMEX gold futures contract on December 31, 1975, before considering entering the market. The purchase of spot gold is easy to trace, and it is also easy to be targeted by people with bad intentions.

My dear, there is more to this chapter. Please click on the next page to continue reading. It will be even more exciting later!

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