December 24th is the last Christmas Eve of this century.

A piece of news suddenly came out in the business district of Pease, Western Australia: Affected by the strike of Rainbow National Gold miners, the price of Wudu gold rose by $15 in one day. The listed company Lennar encountered Waterloo again in the gold futures market, and the company's major shareholder

Illegal command operations, the futures account was running with full positions...With the inability to add margin, half of the contracts in Lena's account were forcibly liquidated, resulting in a direct financial loss of 9 million U.S. dollars...

In Western Australia, the secretary to the board of directors of Lennar Corporation has become the busiest person in the company. He has to take the trouble to answer shareholders' questions.

On Dongzhu's side, Chen Lidong is also a little overwhelmed. His relatives and friends don't understand what is going on with full positions, liquidation, and liquidation. But 9 million dollars is converted into RMB 80 million. If you lose so much in one day, what's the waste?

Many people are advising Chen Lidong: The futures market is a casino, and we are not short of money, so there is no need to live and die there.

Chen Jianing, who was accompanying me, had a very ugly expression on his face: "I shouldn't have taken you to play ball yesterday. If you had been watching at the exchange, there would have been no illegal operations or forced liquidation of the position."

Chen Lidong threw away the phone in his hand and said, "It's okay. I've been through big rivers. Do you still care about this little loss?"

Chen Jianing advised: "Let's listen to others' advice and close the position and exit."

Chen Lidong chuckled and said: "How can that work? I am also the number one person, how can I just admit defeat? I don't believe that the price of gold will continue to rise. I bet that after the New Year, the price of gold will definitely drop. As long as it drops to 330, I will

Just deliver.”

Chen Jianing asked: "What's going on with Kipling? Why does he want to operate with a full position?"

Chen Lidong said: "Well...who knows? I suspect that he was bribed by our opponents. He can't be found. I'm afraid he escaped."

Chen Jianing asked: "What did the police say?"

Chen Lidong said: "What else can we say? We said he was operating illegally, but when the police asked, we realized that Jiplinger was not Lennar's financial officer.

We wanted to report the disappearance, but without strong evidence and clues, we had no choice but to leave it alone.

When our information was disclosed, 99% of it was his fault. It is really our misfortune to have such an insider."

Chen Jianing sighed, then comforted Chen Lidong and said, "Don't get angry. Haven't our Jiajia funds already arrived in Lennar's account? If we still need to borrow money, I will think of a way."

Chen Lidong was really moved after hearing this. Many things about Reiner were hidden from Chen Jianing.

Those secret operations could only be known to a small group of people, and Chen Lidong only revealed the truth to Nick.

Several other members of Lennar's board of directors are busy developing Kupol's gold mine, seizing the opportunity to take advantage of the freeze to deliver supplies to the mining area. Information there is limited, and several major shareholders do not even know what is happening in their own homes.

Chen Lidong has been playing the game of digging holes and filling holes these days, and the actual implementers are only two mechanical servants, Edmund and Virgil.

Although Chen Jianing has been kept in the dark these days, she has been by Chen Lidong's side, just like she was at Chaisang's hospital before.

People always understand who is sincere to you and who is fake only when they experience life and death dangers and are in crisis.

Chen Jianing came from a wealthy family in Yanjing. She studied abroad, went to school, controlled many connections, controlled tens of millions of tons of iron ore transactions, and always presented herself as a strong woman in front of others.

As for himself... Chen Lidong didn't dare to think about it.

Alas... This Zhang Bing, Chen Lidong once asked Zhang Bing to accompany him when he came to Dongzhu, but the boy refused on the grounds that the reservoir dam was about to be closed. He deserved to be beaten to death.

Tomorrow is Christmas, do you want to buy something for Chen Jianing?

...

Chen Jianing didn't know that this cheap brother had another plan.

Dongzhu is short here, but Wudu is long.

As mentioned before, the futures market is close to a zero-sum game.

Regardless of relevant factors, those who go short will make as much as those who go long lose.

Moreover, the funds entering the market from Wudu are twice that of Dongzhu.

Chen Lidong now only hopes that the price of gold will continue to rise and not stop.

So, on Christmas Day, the second wave of news came again.

The South China Morning Post reported: “Christmas Eve was not peaceful as water leaked out of a large gold mine in Garman, trapping nearly a hundred miners.

According to information released on the Yahu Jiaman website, the underground accident occurred at the Gras.berg gold mine, which ranks second in the world. This is a copper-gold mine with proven gold reserves of 3,416 tons. In 1999, the production of gold could reach 90 tons.

An increase of 7% over the previous year.

After the water leakage accident, rescue work has been launched. However, according to industry insiders, the situation in the gold mine is complicated, and the chance of survival of hundreds of miners is low. The gold mine faces the risk of complete shutdown."

...

Rainbow Country, Garman Country, and Woolly Bear Country are the top three gold-producing countries in Blue Star.

In recent years, major gold mines in Mao Xiong Country have faced shortages of funds and insufficient operations, and many small gold mines are also in a state of half-stop production.

Alida Reltovsky, Minister of Mining and Mines of Mao Xiong, said that we should vigorously attract investment in the Far East, introduce foreign capital, technology and equipment, and accelerate the restoration of the production capacity of various gold mines. This is also the reason why Kit and others went to the Far East.

.

From the perspective of the outside world, it will take at least a year for Maoxiong to resume gold production. And they are fighting a fierce war there, so I am afraid that the gold mining industry will not improve for a while.

Now, accidents have occurred in the gold mines of Rainbow Kingdom and Gaman Country one after another, and 15 European countries have just signed an agreement not to sell off their gold reserves. It is certain that gold prices will continue to rise.

These days, companies that need gold as raw materials for production are the most anxious.

In addition to being used as a currency reserve, gold is mainly used for jewelry processing. According to survey data from the British Gold Mining Services Company, the amount of gold used in gold jewelry in the world reached 3,200 tons in 1997.

Another important use of gold is in the electronics processing industry. Gold has excellent stability and good electrical and thermal conductivity, so it is increasingly used in the electronics industry. For example, the production of gold-coated integrated circuit boards and special-purpose power connectors

, brushed wires used in special precision electronic instruments.

The survey report by the above-mentioned service company shows that the global electronic processing industry consumes 237 tons of gold annually.

Other applications of gold include in the medical field, mainly for making dentures.

I won’t go into details about the others one by one.

In 1997, the world's gold production was 2,450 tons. Compared with the consumption statistics above, the supply and marketing data are very unbalanced, with consumption exceeding production by more than 1,000 tons.

The difference of 1,000 tons is partly solved by the major central banks selling gold reserves, and partly is the data of gold recycling and reprocessing.

As consumption levels increase and the electronics industry grows, the demand for gold is increasing, while gold production is showing a shrinking trend, which has led to demand panic and triggered an increase in gold prices.

On December 27, the Monday of the last week of this year, the Dongzhu Exchange opened again. The price of gold had reached 355 dollars per ounce, and then continued to rise, reaching 372 dollars per ounce by the afternoon closing.

It increased by $17 in one day. Lena once again became the focus of heated discussion in the circle because his account information was leaked.

After an increase of 17 dollars, Lena's position requires a margin call of more than 5 million dollars, which is almost equivalent to a loss of 5 million dollars.

A reporter from Dongzhu TV waited for Chen Lidong at the Shangri-La Hotel: "Hello, Chairman Chen, we are reporters from Dongzhu TV. Can you give us a few minutes for an interview?"

Chen Lidong and Chen Jianing were about to set off to inspect a real estate when they were stopped by reporters. He had to straighten up his appearance and said, "I have about ten minutes. What do you want to know?"

The reporter went straight to the topic: "As a major shareholder of Lennar, what do you have to say about this surge in gold prices?"

Chen Lidong said with a smile: "The rise in gold prices is due to major changes in gold production companies. I am very concerned about the situation of employees of gold mining companies in Rainbow Country and Gaman Country. I also express deep concern for my colleagues in the two countries. Lena is just like them.

They are all victims of this accident..."

Seeing Chen Lidong's spiel, the reporter quickly added: "I heard that Reiner has been shorting gold at your request, so it suffered heavy losses in this gold price fluctuation. Do you have anything to say?"

Chen Lidong said with a helpless expression: "Lena's business decisions are arrangements made by the management and have no direct relationship with me.

Profit and loss are normal in business operations. Lennar owns its own gold mine, and shorting gold futures and hedging are also normal operations.

The illegal full position that occurred last time is probably because we are not familiar with the system software of Dongzhu Futures Exchange, and it was not intentional.

Lennar management is also investigating the reasons and is preparing to submit an investigation report to the board of directors and shareholders by the end of next month.

Now that Lennar has closed the position, our position is now only 300,000 lots, and the maintenance margin in the account is enough to cope with the fluctuations in gold prices.

Therefore, as shareholders of the company, we are relatively assured of Lennar’s operations.”

The reporter asked: "I heard that you personally directed this short-selling transaction, right?"

Chen Lidong quickly shook his head: "No! I went to the exchange twice a few days ago to examine the gold futures trading method.

I will propose to the relevant national departments to integrate with international standards and establish a gold futures exchange in the country.

Now that China is accelerating its entry into the WTO, the mainland's economic marketization process continues to deepen, the supply and demand for gold is growing, and the conditions for reform and opening up the gold market are mature.

I suggest that gold futures exchanges be established in cities with developed financial industries such as Shanghai and Jishi. This will be conducive to the development of China’s financial industry and trading industry, and will be conducive to the creation of two major financial centers in the north and south. It will be conducive to..."

The reporter watched the young man in front of him talking to the camera, and finally understood the true meaning of the three words "Chen Huyou", so he had to interrupt Chen Lidong's statement for the second time: "Well... Chairman Chen, can you say

Can you judge the trend of the gold market in the next period?"

Chen Lidongti licked his dry lips and continued to talk: "I think the impact on the market price caused by the difficulties of gold production enterprises in the two countries will soon pass, and the gold price will return to its original value next month.

level.

This judgment is made based on three considerations:

First, the attitude of central banks around the world towards gold directly affects the price of gold. Although the 15 European countries have made commitments in the agreement, they will continue to sell gold to the market every year. This scale is 400 tons, which is equivalent to the world's annual gold production.

One-sixth or one-seventh of.

Second, Lennar's Giant Rock Mining has entered the Far East and joined forces with Polar Mining to accelerate the mining of the Kupol gold mine.

At the same time, Juyan Mining received approval from the relevant departments of Mao Xiong in late October and has begun to acquire gold production companies that have been suspended or semi-suspended in the Far East. They will restore production capacity soon, so I suggest that gold downstream companies should not rush to purchase gold at the current high price.

If it is not necessary, please choose to buy gold after two months.

Third, I noticed that the Sam Gold Jones Industrial Index is still rising. The return from investing in the stock market is much better than investing in gold. After all, gold is a non-interest-bearing asset. I advise those who entered the market during this gold price fluctuation to quickly return to the stock market.

, to avoid losses.”

The reporter looked at Chen Lidong in surprise and said to himself that you are really good at talking.

However, he still did not forget the question that the editor gave him to ask: "Thank you for your professional analysis. So, according to your thinking, Lennar will continue to short gold futures, right?"

Chen Lidong hesitated for two seconds, then looked at the camera and said: "Yes, I suggest Reiner continue to short gold.

I emphasize again that Lennar owns gold production companies, and our miners will use their hard work to contribute gold to the world.
Chapter completed!