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What do you mean by gold buying up and not buying down?
This problem refers to the standardized contract made by Shanghai Gold Exchange, which stipulates that a certain number of subject matter will be delivered at a specific time and place in the future.

The purpose of gold T+D trading is not to obtain physical objects, but to avoid price risks or arbitrage, and generally does not realize the transfer of commodity ownership.

The basic function of gold T+D market is to provide producers and operators with the means of hedging and avoiding price risks, and to form a fair price through fair and open competition.