Rebirth 1980: Marrying my sister’s best friend at the beginning

Chapter 592 The smashing begins!

Hong Kong Island!

On the morning of November 11, when the citizens of Hong Kong woke up from their sleep, they went to newsstands to buy their favorite newspapers as usual.

In this era when entertainment is relatively scarce and it is difficult to obtain information, most literate residents have the habit of reading newspapers and magazines.

However, when citizens got the newspapers today, they suddenly found that many newspapers and magazines were talking about one thing: "The price of gold is going to fall!"

If ordinary newspapers were talking about this matter, the citizens might not care. After all, the island's media is famous for having no bottom line. No matter what the matter is, they will dare to take advantage of it as long as it is popular.

Now that gold investment is so popular, some people inevitably want to take advantage of the popularity and increase sales.

And all investors are optimistic about gold. As long as you go in the opposite direction and badmouth gold, there is a high probability that you will attract the attention of many people.

But when everyone sees that the South China Evening News was the first to report this matter, it’s a different matter.

As one of the four major newspapers in Hong Kong, the South China Evening Post has always been relatively rigorous in reporting news. It is generally not like those unscrupulous gossip tabloids that do whatever it takes to gain attention and sales.

What is even more shocking is that the South China Evening Post published this news on the front page. Even the political show of the Governor of Hong Kong visiting the children in the orphanage was put on the second page. This shows that the South China Evening Post attaches great importance to this matter. .

Therefore, when people saw this news, they were all a little stunned.

You must know that the gold financial products trading in Hong Kong Island was very hot during this period, and one-third of the investors in Hong Kong Island were involved in it.

With the joint efforts of everyone, the price of gold in Hong Kong Island has soared, and has been directly pushed to more than 606 US dollars per ounce, which is about 7 US dollars higher than the international gold price.

Investors are throwing money so crazily because they believe that the price of gold will not drop in the short term. They even believe that the international gold price will reach $850 per ounce like last year.

They are not blindly following the trend. The main reason is that gold has performed too strongly in the past few months.

In August, the international gold price was just over US$8 per ounce, but by September it had reached US$200 per ounce, fully doubling.

By October, it was close to US$10 per ounce, a 600% increase in just three months, so no one believed that gold prices would suddenly plummet.

More importantly, as a special metal, gold's price rises and falls cyclically.

Even if the price is reduced, the magnitude will not be large, and everyone still has a chance to unwind.

For example, those people who were trapped by the sharp drop in prices last year will have an opportunity now. At most, the funds will not make money during the cycle, and most people think they can afford energy consumption.

No matter what happens, you can wait until the time is up and exchange it directly for physical gold and wait for appreciation. After all, it is gold.

In comparison, the current performance of the property market or stocks in Hong Kong Island is speechless. A stock market crash cut the property market price in half, and the stock market plummeted. Many people did not even have a chance to unwind.

To put it bluntly, investors not only feel that the risk of investing in gold is relatively small, but also there is no other better investment channel.

After all, other projects are riskier!
However, this report by the South China Evening News made investors feel a little panicked. The reporter quoted the analysis of a senior economist from the Far East Stock Exchange, saying: Affected by the international environment, the international gold price is about to experience a cyclical price drop, and with it, With the rise of US dollar oil, the trend of gold demonetization is becoming increasingly obvious.

Affected by this, the price reduction will be between 50% and 60%, and the price of gold will fall into a long-term weak state from then on, which can be as short as three or two years, or as long as 10 years.

In addition to the South China Evening Post, many newspapers and magazines are also talking about this matter. These newspapers all predict that the price of gold will fall.And every one of them spoke plausibly, as if they had seen the future.

Citizens who invested in gold were naturally panicked after seeing these reports, and many of them invested their life savings.

If prices suddenly plummeted, the consequences for them could be catastrophic.

Therefore, everyone rushed to the stock exchange to see if the price of gold had really fallen.

After waiting at the exchange, I found that the international gold price had not changed much. Except for the slight decline in the quotations in the New York gold futures market, the prices in the gold markets in Chicago, London and Zurich remained stable.

This situation made everyone breathe a sigh of relief!

However, the analysis of those newspapers and magazines was like a curse, taking root in their hearts. Upon seeing this, some investors who were not very determined immediately reluctantly put up the gold financial product contracts in their hands.

For some veterans in the investment community, the prerequisite for investing is to protect capital first, and make money second.

If you look at other people's high returns, they may be looking at your capital, but you can't lose your capital because of a lollipop.

It can be said that because of this overwhelming report, the water in the investment community on Hong Kong Island has become muddy!

And this is just the beginning!
At nine o'clock in the morning, Li Fuk-tiao, a well-known business tycoon in Hong Kong Island, accepted an exclusive interview with the TV station. In the interview, the host specifically asked Li Fuk-tiao about his views on the current hot gold investment wave in Hong Kong Island.

What was unexpected was that Li Futiao directly stated that he was not optimistic about the performance of gold.

In Li Futiao's words, the price of gold has reached its peak and there is currently no room for further growth.

Unless the petrodollar system collapses and the dollar is re-pegged to gold.

Otherwise, the price of gold will soon fall, or even plummet.

At the same time, Li Futiao also warned investors who still hold physical gold and gold financial products that if they don’t want to go to the rooftop to experience the infinitely beautiful scenery, they should get rid of the trap as soon as possible.

Even if you lose a little money, it’s okay to avoid a sudden plunge in the price of gold!
In addition, he also warned those investors to try not to invest in gold during this period. Even if they invest, they should not do long gold, otherwise they may not be able to bear the consequences!

Li Fuk Tiao's influence on Hong Kong Island is huge, and he said this in an exclusive interview. It was obviously after careful consideration that no one would turn a deaf ear to his warning.

The most important thing is that everyone knows Li Futiao's character. His character is well-known in the circle. Since he has made it clear that he is not optimistic about the prospect of investing in gold, it means that gold is real. There are risks.

Under such circumstances, a large number of gold investors soon chose to withdraw.

There is no way, the current situation is really weird, maybe if you run too slow, you will really get stuck.

For a time, the securities market on Hong Kong Island was full of people placing orders to sell gold financial products, and some people took physical gold to banks and stores to sell it.

When more people sell, the price of gold will naturally be affected.

Less than two hours after Li Fuk-tiao’s interview, the local gold price in Hong Kong dropped from US$606 per ounce to US$601, a full US$5 per ounce drop.

The turmoil in the gold market has directly attracted the attention of all investors in Hong Kong Island, and has also caused some people to feel uneasy!
(End of this chapter)