The biggest beneficiary of the gold bull market in the past three years is actually a Chinese trading tycoon (net profit of $1.5 billion) - Bian Ximing, the actual controller of Zhongcai Futures. Bloomberg estimates that Bian earned a net profit of $1.5 billion in this gold clearing. As the Federal Reserve's interest rate hike cycle comes to an end and global risk aversion is on the rise, Bian Ximing took the lead in building gold at a low level in mid-2022 and significantly increased his holdings in early 2023. He is not making a one-time bet, but gradually establishing positions in key technical positions, stepping on rhythm points in each round of adjustments. In the main uptrend from the fourth quarter of 2023 to early 2024, he achieved efficient leverage gains by combining futures main contracts with over-the-counter structured instruments. Big shots have recently shifted to the copper market. In the first quarter of this year, Bian Ximing established a long position of up to $1 billion in the main copper futures contract of the Shanghai Futures Exchange, becoming the largest individual investor in the Shanghai copper market. At present, the long position of copper futures has approached 90000 tons, almost occupying the top position of open positions in the market. He completed the warehouse building before Trump announced the "equivalent tariffs" earlier this year, when copper prices had just surpassed the 75000 yuan/ton mark. Subsequently, as global demand for copper increased, copper prices rose all the way to over 85000 yuan/ton. In April 2025, when copper prices hit a new high in 10 years, he significantly reduced his holdings, which led the market to believe that he had "withdrawn unscathed". But a few days later, he quickly replenished his position, demonstrating a firm belief in the long-term trend of copper and extremely strong control over the market. It is estimated that the book profit of his copper futures has exceeded 200 million US dollars. Entering heavy warehouses, flexibly adjusting warehouses, and following the trend, such a large volume and such flexibility are also soaring to the realm of heaven and man.