What are the advantages and disadvantages of gold spot trading paper gold and gold futures?

Domestic gold market investment varieties
This:
1. In recent years, domestic gold investment varieties have become richer and richer.
2. Folk gold investment usually uses physical gold investment.

Golden culture is an indispensable ancient culture in China. Frying gold was a common investment method in old China. Shanghai in the 1930s and 1940s was the Far East Financial Center. , Gathering here ". Only later gold was controlled, only the development of gold investment was limited. In recent years, gold investment has been in the ascendant, and investment varieties have become more and more abundant.
So what gold varieties can investors trades in China? rn大体上来说，国内的黄金投资品种和国际上的基本一致，无外乎金条（块）、金币、黄金管理账户、黄金凭证、饰金、黄金期货、黄金期权、黄金股票、黄金Fund and other types. For example, the varieties of spot gold AU99.99, AU99.95, and spot extension transactions AU (T D) provided by the Shanghai Gold Exchange and the gold account products provided by state -owned banks are also called paper gold. In 2003, the Golden Bao (personal real gold trading business) launched by Bank of China in 2003 and the golden bank launched by China ICBC.
specifically, including the following investment varieties.
First, the agency of the commercial banks and the physical gold developed by themselves.
The real gold bars and commercial banks by the commercial bank's agency gold company and commercial banks use their own advantages to sell the gold physical sales of the sales window as the sales window. For example, the "Gaussor" investment of China Merchants Bank's agency; "Long Dingjin" of the Construction Bank; "Golden Mandrers" of Industrial and Commercial Bank of China.
The main forms of physical gold in the gold spot market are gold bars and gold blocks, as well as gold coins, gold medals and jewelry. Gold bars have low purity sand gold and high purity bar gold. Bar gold generally weighs 400 ounces. In order to standardize the trading behavior, the internationalization and settlement of the price and settlement, and the standardization of the settlement and settlement, the gold market requires the trading standards that enter the market to be processed by refined gold in accordance with the prescribed shape, specifications, color, and weight of elements. This It's the golden. Bidding is a variety of investment for individual investors in my country.
In physical gold transactions, market participants mainly include gold producers, refiners, central banks, investors and other demanders. Finance for it.
Plum gold investment usually uses physical gold investment. Usually private investment gold is to buy gold spot in the investment. There are many ways: First, buying gold blocks above AU95 in some gold -producing areas. The price of this method is relatively low, the gold content is not standard, and the sale is sold. The procedures for testing the gold content are cumbersome. The second is that most gold investors outside the gold area are investing through buying jewelry, and the profit is much reduced compared to gold block investment. Some people invest in gold coins. Its long -term value is high, and investment income is small. The more feasible gold investment should be investment gold bars and gold blocks. Although gold bars and gold blocks will also charge investors a certain amount of production and processing costs, this cost is generally low in general. Only some commemorative gold bars and gold blocks will have higher processing costs. The monetization of gold bars and gold blocks is very good, and generally it can be convenient to buy and sell in any part of the world. Most areas do not levy transaction taxes, the operation is easy and easy, and the profit is considerable.
Secondly, paper gold developed by commercial banks.
"Paper Gold" is the golden document, which is a unique gold investment variety in my country's financial market. It uses banks as gold as a city merchant, and investors have established gold trading relationships with banks. However, it is necessary to use the gold quotation transaction of the bank to the bank, that is to say, the price of gold buying and selling the gold must be determined by the bank. Investors can only buy and sell gold with the quotation of the city merchants. out. Of course, the banks will not be chaotic here, and the bank will also use the international and authoritative gold quotation as the basis for formulating gold prices, and to join the bank's profit margin appropriately. The difference is the difference between the purchase price and the selling price at the same time. Investors' buying price at the same time is higher than the selling price, and the difference in the middle is the income of the bank as a market. Usually the point difference of banks is 0.8 yuan per gram, and the differences set by each bank are different. During the transaction, there is no solid gold intervention. It is a service provided by banks, which is based on precious metals. At present, only three banks can conduct paper gold transactions in domestic banks, namely the Bank of China, ICBC and CCB.
third, gold stock and gold fund.
Golden stocks, also known as the stock of Gold Mine Company, refers to the listing or not listed by the gold mine company to the society. Gold Fund is a common fund specializing in gold or gold derivatives as investment media, to obtain investment income. Gold funds are divided into open funds or closed funds.
Fourth, gold account.
The gold account refers to a gold investment method provided by commercial banks for investors. Investors have opened a gold account and are only used for account collection records for account gold trading transactions. Account gold cannot be transferred or repaired in real objects without paying interest. The transaction price directly refers to the rolling quotation of the three major international gold market. The transaction does not charge the handling fee, but takes a point difference. It is convenient and fast, simple operation, no need to keep the real thing, greatly reduce investment costs, but can earn rich profits in the golden bull market. Suitable for the participation of ordinary gold investors.
Fifth, gold futures, gold options, and long -term gold transactions provided by international gold dealers.
The investment varieties can be magnified by 30 to 60 times, but profit and risk sharing. At present, there are no these varieties in the domestic gold market. As the state has introduced the gold market supervision and related policies, these varieties will gradually be open.
The sixth, professional gold companies 'professional gold companies' spot delay transactions.
The final trading platform with Shanghai Gold Exchange, using its own brand gold, convenient gold circulation system and professional gold investment technology to provide investors with convenient gold investment platforms. Signed the "Gold Sale Contract" with customers, and the real gold is fulfilled and delayed to coexist, strictly enforce the contract agreement, and earns service fees.
State delay transactions are traded in a margin. Before my country had a trading platform without gold futures and gold options, it had used margin transactions as its replacement variety. Among the current world gold transactions, there are both gold futures margin transactions and gold spot margin transactions.
The margin transaction means that in the gold trading business, market participants do not need to allocate the full funds of the gold they traded. ensure. Gold margin transactions refer to the gold buying and selling business, market participants do not need to allocate the full funding of the gold they traded. They only need to pay a certain percentage of prices in accordance with the total amount of gold transactions as the performance guarantee of the golden physical settlement.
This is a variety that is very suitable for personal investment. There are two types of margin transactions: AU (T 5), AU (T D).
AU (T 5) transaction refers to a installment transaction method that implements a fixed settlement period, with 5 working days (including the day of the transaction). Both buyers and sellers establish a sales contract with a certain percentage of margin (15%of the total amount of the contract). The contract cannot be transferred. It can only open a new position. In the physical settlement, if the two parties to the buyer and the seller break the contract, they must pay a liquidated damage of 7%of the other party's contract. If both parties break the contract, both parties must pay a 7%liquidated damage to the gold exchange.
AU (T D) transaction refers to a spot extension of the deposit business conducted in a margin. Both buyers and sellers establish a buy and sell contract with a certain percentage of margin (10%of the total amount of the contract), and AU (T T T 5) Different transactions are that the contract can not be collected in real objects. Both buyers and sellers can buy or sell to flatten the contract according to the market changes. Second, the deferred fee (its payment direction should be determined according to the status of the day's credit declaration. For example, if the customer holds the purchase contract, and the number of delivery declarations on the day is that the number of receipt is more than the number of delivery, then the customer will be the customer. Get the delay fee, otherwise pay). If the position is held for more than 20 days, the exchange will add a 10,000th of the over -date fee calculated according to each trading day (currently collects first and then refund). After the successful statement, after the successful statement, if the two parties of the buyer and the seller break the contract, the total amount of the other party must pay a total amount of 7%of the contract amount. Place.
Seventh, leverage transactions for other agency external disk business. Overseas gold investment companies, or domestic small investment consulting companies and individual agents from overseas gold investment varieties.

If expert advice:
A investors open a gold account, which is only used for account collection records for account gold trading transactions. Pay interest.
Gold investment varieties each have a long and short
This:
1. The cost of gold depository management is high.
2. Paper gold generally cannot be replaced back.
3. Paper gold and physical gold cannot be short.
4. The margin trading method also has a small high leverage effect.

Since there are so many investment varieties, which kind of investment is better? In fact, these investment varieties have their own lengths. Let's talk about the pros and cons of these investment varieties.
The first, physical gold.
We we know that gold is the king of currency and is the best way to fight inflation, but some of the shortcomings of gold itself also make the investment of physical gold defects.
The identification of physical gold is more difficult. For people who are not professionals, how to identify the quality of gold is a very difficult thing. How much we have bought is real gold, and how many are mixed in the impurities. It's hard to say why.
The realization of real gold is more difficult. Now, when selling gold, we often cannot sell gold through authoritative channels, and we can only sell gold through some unofficial folk channels. Among them, we do n’t know how much profits we know about the market. I believe there is no bottom in my heart.
It golden storage. The value of gold is high, and its custody is not an easy thing for ordinary people. Generally, people have two ways, one is stored in their own home, and the other is a safe to rent authoritative institutions. Generally speaking, the safety is relatively low in its own home; the safety of third -party institutions is guaranteed, but the expensive custody fee will increase the cost of gold.
This holding gold -free interest income.
The different varieties in physical investment have different advantages and disadvantages.
1. Many investment experts believe that gold bars and gold blocks should be the first choice for investment. Compared with jewelry gold, although gold bars and gold blocks will also charge investors a certain amount of production and processing costs, this cost is generally low and the price is closer to gold prices. Because gold bars and gold coins are not involved in other costs, they are the best choice for real gold investment.
2. Gold jewelry and accessories are the most common physical gold in the market now. However, the value of gold jewelry and accessories lies in its ornamental value, and it has very high manufacturing costs. The essence of gold investment that has been separated is that it reflects the cost of gold manufacturing process. It is obvious that it is not conducive to gold investment. It is not easy to realize and the loss is large, so it is not suitable for investment.
3. Gold coin investment is a flexible gold investment method, but it is not a good way of investment. Gold coins are issued by the state. Gold coins are flexible. It can be purchased with market price and market price fluctuations, which can be purchased at any time. However, it is not the best way to invest, because market buying and selling is very difficult. There are no special recycling locations, so it is not a good gold investment method. The emergency solution of the repurchase method is the first problem for the investment of gold coins. It is necessary to facilitate the introduction of a certain recycling policy for the investment countries of gold coins.
second, paper gold.
The image, paper gold is a golden paper transaction. Investors' trading records are only reflected in the "gold passbook account" pre -opened in advance, and the price of gold is adjusted in real time according to international gold prices. Users do not have to worry about banks manipulating the gold price at will.
The advantages of paper gold are obvious.
1. High safety. Because paper gold does not depend on physical transactions, you don't have to worry about the storage and storage of gold. It is recorded in the bank's database in the form of data. Its security is much higher than bank deposits.
2. low cost. In paper gold transactions, investors do not need to invest in gold through physical trading and settlement. Because they do not involve real gold, the transaction cost can be lower.
3. The realization speed is fast. From the degree of monetization, the monetization of paper gold is instantaneous. Unlike the fund, it takes several working days to get money. And paper gold is more flexible than stocks. As long as you are willing, you can sell your paper gold after one minute of buying, and this is impossible to achieve in the stock market.
4. Trading method specifications. Paper gold follows the price of international gold prices instead of being formulated by the bank itself, so investors do not have to worry about banks to obtain profits by manipulating the price.
5. The fee is low. Like stocks and funds, the transaction of paper gold also requires a certain amount of handling fees. Different from the traditional handling fee according to the traditional transaction amount, the handling fee for paper gold is charged according to the amount of gold. The handling fee is far lower than the fees of stocks and funds, and this ratio will decrease as the price of gold rises.
but paper gold is not without defects. Although it can be equivalent to holding gold, the "gold" in the hukou can generally not be exchanged back to the real object.
The attention here is that the common disadvantage of paper gold and physical gold is that it cannot be short. In other words, when the price of gold fell, investment could not be performed in gold investment, and it could only wait for the next rise. If investors hold gold and do not sell them in time, they can only bear the loss of gold prices.
third, big risk investment, gold futures and options.
The general forms of futures and options realize leveraged transactions, as well as gold futures and options. It is different from ordinary gold investment. It is a big risk investment, so the benefits are greater than the general gold investment, and the risk bearing is also greater.
The replacement varieties of this investment method include margin speculation, and the T D spot extended transaction business of the Shanghai Gold Trading Market.
The margin trading method also has a high -leverage effect with a small and large -leverage. Such products have a small investment cost and high market liquidity. Investors can choose the contract on the day of the contract or delay the delivery. The minimum opening funds are 10%of the transaction volume, allowing two -way transactions to do more or short, and can be closed at any time after the transaction. At the same time, the transaction method is freely quoted, which improves the flexibility of the transaction. The investment income is relatively high, which has attracted the addition of many speculators, but the risk of this transaction method is relatively high. It enlarge the risk of price fluctuations that existed, and the changes in smaller prices can also lead to greater risks. When the market conditions deteriorate, speculators may have a huge loss.
Fourth, leverage transactions for other agency external disk business.
The leverage transactions of other agency external disk business are not fulfilled in spot gold and are restricted by funding supervision. Most of the customer funds are indirectly entered into personal accounts, which is difficult to obtain legal protection. Therefore, it is not suitable for personal investment.

Hello
has invested gold for a few years, what are the problems, you can talk about it in detail