The second is hedging;

The third is speculative profit.

Price discovery is the function of gold futures trading, and gold futures price is the future embodiment of gold spot price. Both futures margin trading and spot margin trading can achieve hedging. It may be necessary to explain the concept of gold hedging here. Gold hedging refers to the market operation mode that gold traders adopt to lock in risks or profits at the current value in order to avoid the market risks brought about by uncertain changes in future gold prices. Because of its high leverage, margin trading has also become a tool for investors to speculate and make profits.

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