Super Rich from Winning a Lottery-Chapter 340 - 241: Soaring International Gold Prices (Part 2)

When the international gold futures prices surged again, and they rose to a certain level, positions were reduced. They made a profit and ran, pocketing the money to secure it.

Although the price of international gold futures often experiences pullbacks and fluctuates up and down, the upward trend is unwavering. In over three months, it has broken through to over $1382.

Under Cheng Guohua's command and trading, not only have the international gold futures contracts held increased to 100,000 lots, but they have also earned $1.58 billion in cash.

The holdings of international gold futures increased from 20,000 lots to 100,000 lots. Every one dollar fluctuation in the international gold futures price equals $10 million in profit or loss.

The current account has a floating profit of as high as over $2.93 billion, the total profit reaching over $4.5 billion.

When Cheng Guohua reported to Yi Anguo, Yi Anguo couldn't help frowning while looking at the international gold futures market chart in his hand. The speed of this increase is somewhat beyond his expectations.

Earning $4.5 billion in three months cannot compare to the peak money-making moments when trading international crude oil futures, but it is already astounding. That's nearly ¥38 billion RMB!

"Isn't the speed of the international gold futures rising a bit too fast?" Yi Anguo said to Cheng Guohua.

"It is indeed a bit fast, repeatedly breaking new highs, refreshing the highest prices in international gold history." Cheng Guohua nodded in agreement.

"Well! Based on this trend, reaching $1400 should be no problem. When it exceeds $1400, you must be ready to close positions at any time! My opinion is to completely close positions before reaching $1420 and to wait and see the changes." Yi Anguo thought and said.

Yi Anguo vaguely remembered the 2010 international gold futures market, with the lowest at above $1000, but the highest did not reach $1500, seemingly just over $1400, though he couldn't recall the exact amount.

Originally, he thought the highest price should appear by the end of the year, but now it's only June, and it's almost about to break through $1400. Clearly, they can't continue chasing the rise.

"Forget it! We won't wait any longer; you close positions immediately, and go short instead!" Yi Anguo thought more about it and decisively said.

"Now? Immediately? Right now?" Cheng Guohua was a bit bewildered, not knowing why the chairman suddenly changed his mind again?

"Not wait any longer? It's still rising now! Didn't you say it would definitely exceed $1400?" Cheng Guohua asked in surprise.

"No more waiting, we've earned enough already, it's not necessary to sell at the highest point, and besides, no one knows what the highest point is!" Yi Anguo said unhesitatingly.

Let's pocket the money we've already earned first, talk about it later! Anyway, there won't be much more increase the rest of this year.

Cheng Guohua nodded, immediately instructing the traders to trade, fully closing the long positions, and turned to short 50,000 lots. Anyway, the funds at hand are ample, so there's no need to be stingy.

The closing price has already reached an average of $1394, and when Cheng Guohua turned to short, the international gold futures price had already surged to $1398.98, stopping there.

Immediately after, it sharply fell, a large number of shorts suddenly began to exert force, longs were countered by shorts, directly getting blown out, in just five minutes, it suddenly dropped by more than 10 points, from $1398.98 down to $1388.33.

An hour later, it directly fell to $1368.12 again, dropping more than 20 points again. Many gold investors, who were laughing happily an hour ago, were now utterly bewildered.

Cheng Guohua was also sweating nervously. If it weren't for the chairman's decisive decision to let him immediately close the long positions and turn to shorts, this hour would have directly lost more than $200 million.

Not only did they not lose this more than $200 million, but because they took 50,000 shorts, they also made more than $100 million more.

But this time it could adjust, how much farther can it drop before stopping and rebounding?

Yi Anguo truly couldn't give him a definite answer, as he only roughly remembered that the highest price of international gold futures in that year was over $1400, not exceeding $1500. The lowest price roughly wouldn't go below $1000.

As for the specific amount, how would he know?

The ups and downs during this period are even less clear.

He just feels like it's nearly $1400 already, the price is too high, after all, it's still early in the second half of the year.

However, he optimistically estimates that it should at least break below $1300 this time.

But it probably won't break below $1200, likely around $1250.

As for the specifics, it's up to Cheng Guohua to grasp, since he is the one who is specifically responsible for commanding the trades.

Besides investing in international gold futures, Yi Anguo also had An Country Bank purchase a large amount of physical gold, and this physical gold doesn't necessarily have to be delivered, it can be delivered whenever wanted, very freely.

Using depositors' money to invest in international gold, the bank will certainly rake in profits, after all, by the end of next year, there will be a nearly 100 percent increase.

Yi Anguo always feels like he doesn't lack money, yet also feels he never has enough money to spend because although he has many assets, most of them have already been invested in stocks and real estate.