(1) The gold and silver trading market in Hong Kong is dominated by China investors with fixed trading places. The main trading specifications of gold are five Sima 99 standard gold bars, and the trading methods are open bidding and cash loan;
(2) The London gold market in Hong Kong is dominated by foreign investors, and there is no fixed trading place;
(3) The Hong Kong gold futures market is a regular market, and its nature is the same as that of new york and Chicago Commodity Futures Exchanges. The trading mode is formal and the system is relatively sound, which can make up for the shortage of the gold and silver trading market.
Agents: Hong Kong Monetary Management Department and Hong Kong Securities Regulatory Commission.
Regulatory provisions
(l) The regulations of the Hong Kong Monetary Authority on the management of gold and silver and the laws and regulations of commercial banks, securities companies and brokerage companies on gold.
(2) Regulations of China Securities Regulatory Commission on the Administration of Futures Exchanges.
Related organizations
the chinese gold and silver exchange society
(2) Hong Kong Gold Futures Exchange
(3) Hong Kong's London gold market
(4) Hong Kong Gold Dealers Association
(5) Futures Association
Regulatory characteristics
(l) The Hong Kong Monetary Authority is responsible for the management of gold as a currency reserve.
(2) The China Securities Regulatory Commission is responsible for managing the gold futures exchange.
(3) The Financial Services Department assists in the management of the chinese gold and silver exchange society and Hong Kong London Gold Exchanges.
(4) The Trade and Industry Bureau and jewelers will manage the gold jewelry manufacturing industry.
(5) Hong Kong is one of the five largest gold trading markets in the world, and it is also the only region with physical gold trading, intangible market and futures market at the same time.
(6) Hong Kong's gold market is a completely market-oriented system, which has various attributes of gold trading, mainly reflecting the characteristics of gold investment and commodity gold trading.
Market size editor
(l) Physical gold transactions are handled by Hong Kong gold and silver dealers. Intangible gold trading and paper gold investment are operated by the Hong Kong London Gold Exchange. Gold derivatives are operated by the Hong Kong Gold Futures Exchange. The above transactions are the largest in the Asia-Pacific region, and most of them are investment-oriented financial gold transactions.
(2) Commodity gold in Hong Kong is mainly a demand and consumption market. 1992, the scale reached 99. 1 ton, and decreased to 46. 1 ton in 5438+0 in 2006.
Transaction mode editing
future
1980 the hong kong futures exchange began to operate gold futures business, and the transactions were conducted by separate bidding. The multi-party contract is 100 gold ounce, and the contract deposit per lot is 1500 USD. The price of each contract is 10 or its multiple. If the price change per gold ounce exceeds the closing price of $40 in the previous trading day, trading will be suspended for 30 minutes to pay additional margin. There are no restrictions on changes in the transaction. After each contract is completed, the seller delivers 100 gold ounce of standard gold. The futures exchange shall be managed in accordance with the management regulations and operate with reference to the new york market rules.
London gold
1974 After gold resumed free trading in the Hong Kong market, several major gold merchants of the London Gold Exchange and the Zurich Gold Exchange set up branches in Hong Kong and established the London Gold Market in Hong Kong. It is a spot market, where gold is settled in London and settled in US dollars in new york two trading days after trading.
Customers in Hong Kong and London gold markets can use special credit arrangements to delay settlement, which involve borrowing gold or dollars, basic margin and price change margin. This market has further developed and formed a unique Hong Kong London gold deferred settlement market. Gold traders, manufacturers and producers all over the world participate in this market.
Fixed trading place
Chinese gold and silver exchange society has a history of several decades and has a fixed trading place. Gold is priced at HK$/RMB, and the purity of standard gold delivered is 99%. The main trading specification of gold is 99 standard gold bars with five symas. At present, open bidding and attitude trading are adopted. The trading hall adopts membership management, with 172 members and 3 gold bar smelters recognized by the trading hall. Chinese gold and silver exchange society, which is completely free from government intervention or supervision, has operated well for more than 70 years and has become a recognized trading place for traders, goldsmiths, long-term investors and speculators in Asia.
Hong kong real gold market
The main products are gold bars, coins, ingots, statues and buddhas. Generally, the premium of gold bars in Hong Kong is 1%, which is the basic rule for selling gold bars, and the premium can be determined. The price of gold can be traded in real time with market fluctuations, and it can be bought and sold in banks and gold shops in Hong Kong, and three investment products, namely real gold, gold passbook and gold coupon, can be formed accordingly.
Jinshi market
Hong Kong is the third largest exporter of gold ornaments in the world, second only to Italy and Switzerland. There are more than 65,438+0,800 jewelry stores and 65,438+0,000 manufacturers in Hong Kong, which are managed by various jewelry associations.