Gold futures refer to futures contracts with the gold price in the international gold market as the transaction target at a certain time in the future. The profit and loss of investors buying and selling gold futures is measured by the difference between the time of entry and exit, which is the physical delivery after the contract expires.
1, investment threshold is different.
(1) The object of gold futures trading is gold contracts with various maturities provided by futures exchanges. The quotation is provided in RMB, and the starting point of the transaction is 1 contract, that is,1000g. Generally, the standard for collecting the margin of a single gold futures contract is 1 1% of the contract value, and the contract is in June 2008. If individual investors buy and sell gold futures, they need to invest at least 24,000 yuan, and the daily trading is limited to 5%.
(2) The object of gold option trading is the spot gold in the international market, and the quotation is provided in US dollars. The starting point of the transaction is 20 ounces of gold, which is 622 grams. Individuals need to pay a certain option fee to invest in gold options, and the term of options provided by banks includes six kinds ranging from one week to six months. For the right of the shortest period, the option fee is generally 10 USD/oz, so investors need to invest 200 USD to invest in gold options, and there is no limit to the rise and fall of "gold options" investment.
2. Different risks
Because they are two different products, "gold futures" and "gold options" face different investment risks.
(1) Individual customers who invest in gold futures will face the risk of forced liquidation due to insufficient margin balance. The customer may lose all the funds in the account. Because the price change of domestic gold futures market is influenced by the fluctuation of international market, and the price of gold in new york market often fluctuates greatly at night, it is inevitable that the price trend of gold in domestic futures exchanges will jump, and the risk of investors' holding positions will increase.
(2) When trading gold options, the customer, as the option buyer, has determined the biggest loss at the beginning of the transaction, that is, the option fee paid to the bank. No matter how the gold price changes in the future, the biggest loss of customers has been determined. As long as the market fluctuation is beneficial to the customer within the validity period of the option (including the expiration date), the customer can choose to sell the option and lock in the profit without worrying about large reverse fluctuation.