Chapter 58 Shorting Gold!

"Uncle Huang, you are quite generous. Today's expenses should be no less than a million!" Su Chen lay on the sofa, leisurely admiring the beautiful scenery of Victoria Harbour outside the window.

"Huh, generous? He is probably just considering my status as the eldest son of Wada. He makes a lot of money every year relying on Wada. This little money is just a drop in the bucket for him!"

The corners of Sicong's mouth drooped slightly, and a hint of displeasure flashed in his eyes, as if he had thought of something bad.

Su Chen also noticed that something was wrong with Si Cong's expression, so he approached him curiously and asked, "Your expression tells me that you have something to say about this Huang. Tell me, what's the situation?"

"What could be the problem? I just checked into a hotel a while ago and the interior decoration made me feel disgusted. I complained about it online, but guess what happened?" When he said this, the corners of Sicong's mouth twitched.

"Is there any reversal?" Su Chen also became interested and even sat up straighter.

"Ahem, later on, netizens discovered that the hotel I complained about was owned by the Wadda Group. As for the decoration... it was the work of my Uncle Huang!"

Su Chen couldn't stop laughing after hearing that. He held his stomach and laughed non-stop, "Hahahaha~ You really made me laugh to death. You complained about your own hotel on the Internet, and you realized it too late. You are really awesome!"

Sicong gave Su Chen a displeased look and turned around to play with his phone.

"dong dong dong~"

Looking at Su Chen who was still smiling, Si Cong got up helplessly and went to open the door.

"Old...Young Master Wang!" Pei Rang thought that it was Su Chen who opened the door, but he didn't expect that it would be the young master Sicong who opened the door.

"Your boss is dying of laughter, go check it out!"

Pei Rang was also stunned when he heard this, "Laughing to death?" How funny would this have to be to make someone laugh to death?

Although I didn't understand what was going on, I walked in anyway.

As soon as I arrived in the living room, I saw Su Chen wiping his tears with a smile on his face.

"Boss..." Pei Rang was also a little curious at this time, what made Su Chen laugh so happily.

"Hey~ It's Pei Rang, you're back? How did things go?" Su Chen asked, rubbing his face which was a little stiff from smiling.

"It's already been discussed, but..." Pei Rang glanced at Si Cong next to him.

"It's okay, go ahead!" Su Chen waved his hand to signal him to continue. After all, it was not an important matter.

"In terms of leverage, they can only give us 10 times the leverage at most. Even if our funds can reach 20 million, they still have to consider whether to give us times the leverage!"

"That means the 20x leverage is still uncertain now!" Su Chen frowned.

A lower leverage ratio means lower returns and, of course, a lower risk of loss!
"Master Su, are you playing such a big game? One hundred million... and 20 times leverage? If there is a small fluctuation, your funds will be gone! Do you want to think about it more..."

"Hahaha~ It's okay, you can make money again if you lose!" Su Chen smiled and waved his hands.

In just half a month, the system can make him more than 100 million!
"Well~ you are rich and you can do what you want!" Thinking of Su Chen's current wealth, Si Cong gave up the idea of ​​persuading him.

But this also aroused his curiosity. What kind of stocks or futures are worthy of Su Chen's 20x leverage!

However, thinking about what he had said before that he was not interested in stocks, he didn't want to continue asking. Moreover, such a confidential matter...how could he possibly tell it out until the moment of action.

"10 times is 10 times, I'll try to get more tomorrow!"

"Okay, Boss, if there's nothing else, I'll go back and rest first!"

"Well, let them all have a good rest. We will be busy for several days starting tomorrow!"

Although there are still two days before Goldman Sachs starts short selling, Su Chen must enter the market in advance, otherwise he won’t even get any scraps when the big investment banks on Wall Street enter the market. …………

Citibank!

As soon as Su Chen and his seven companions arrived at the bank, they were invited into the office.

"Boss, this is Manager Yang from Citi Securities Services Department!"

Su Chen looked at the middle-aged man with glasses in front of him, smiled and stretched out his hand and said, "Hello, Su Chen!"

"Hello, Mr. Su!" Manager Yang smiled and shook Su Chen's hand, but his eyes flickered to Sicong behind him.

"Let's get straight to the point. Pei Rang has already talked to you yesterday. Now there is only one question: Can we get a 20x leverage? If not, I will directly change to another brokerage firm. I believe in Hong Kong."

Before Su Chen finished speaking, Manager Li, who was sitting opposite him, said directly: "Okay, 20 times is no problem at all. If Mr. Su has no other requirements, let's sign the contract directly!"

"Um~ let's sign it!" Su Chen thought it would take some time to negotiate, but he didn't expect that he would agree so readily.

He turned around to look at Pei Rang beside him, and found that Pei Rang was also confused.

The two parties discussed the details and then signed the contract. Su Chen also directly transferred 100 million to the account.

Manager Li brought Su Chen and others to the VIP trading room, chatted briefly and then left.

After closing the door and checking the time, Su Chen called Pei Rang and several others over and asked them to hand in their cell phones. Even Si Cong handed in his phone voluntarily.

"Pei Rang, tell me about the plan!"

Pei Rang nodded upon hearing this, and turned to look at his four subordinates, "Our goal is to short gold!"

As soon as these words were spoken, the four traders and Sicong all took a deep breath. You know, the current gold price has been stable. What's more, Su Chen's capital is only 100 million. Even a leverage of 20 times is just a drop in the bucket for the stock market. How can it possibly shake the price of gold!
"What are you still standing here for? Everyone, take action immediately. Contract! Contract! Look for the gold short contract immediately. Take action, gogogo!"

"I heard it!" The four traders immediately took action.

Everyone has been working in the industry for many years and has the necessary professional qualities. The boss has made all the arrangements and they just need to execute them directly.

The current price of gold futures is $1748.36 per ounce. After a 20-fold leverage, Su Chen's principal converted into US dollars is approximately US$2.8 million.

Everyone is concentrating on finding short contracts, fearing that they will be snatched away if they are not careful.

"100 lots of gold shorts are taken! Price is $1749.05 per ounce!"

"500 lots of gold short orders were taken."

“800 gold short orders.”

“1200 gold short orders.”

"1600 lots. The funds have been used up!"

The four traders worked under high pressure for an hour in a row. All of them were exhausted. When they heard that the funds were used up, they all collapsed in their chairs like deflated balls.

"Boss, all the money has been invested. A total of 1600 short gold contracts! The average price is $1748.88 per ounce! The term is half a month!" Pei Rang was so excited that his face turned red.

Now, for every dollar drop in gold price, Su Chen can earn 16 US dollars. Of course, for every dollar increase in gold price, Su Chen will lose 16!
"Well~ Now all we have to do is wait for the wind to pick up!"

If Wall Street, led by Goldman Sachs, really comes to an end tomorrow, it will be a feast for short sellers!
　The author has never traded stocks and has only looked up information. However, much of the information is incomplete. If there are any mistakes, I hope you can understand!

　　
　
(End of this chapter)