"Paper gold" is a kind of personal voucher gold. Investors buy and sell "virtual" gold on the books according to the bank quotation. Individuals earn the fluctuating price difference of gold by grasping the trend of international gold price. Investors' transaction records are only reflected in the "gold passbook account" opened by individuals in advance, and there is no cash withdrawal and delivery of real money and silver.
Gold T+D is mainly margin trading. Traders can choose to deliver or postpone delivery on the contract trading day, and at the same time introduce a deferred compensation mechanism to stabilize the contradiction between supply and demand. This trading mode can provide hedging function for gold producers and users, and also meet the investment needs of investors, with low investment cost and high market liquidity; At the same time, it also provides investors with a short-selling mechanism and trading platform, which is suitable for investment and financial management.
The trading hours of the two are as follows:
Paper gold: hours of BOC: trading hours are all day, from 8: 00 Monday to 3: 00 Saturday, and accounting is handled from 3: 00 to 4: 00 every day. In case of international and domestic holidays, customers will be informed in advance. ICBC Time: Monday 8:00- Saturday 4: 00, the unilateral spread of ICBC gold experts is 0.4 yuan/gram, 3 USD/ounce.
Gold T+D: Trading time is 9:00- 1 1:30 (Monday morning time is 08:50- 1 1:30), and afternoon time is13: 30-/kloc-.
Personally, I think that the high handling fee of paper gold belongs to long-term investment, while the TD of gold belongs to delivery transaction, which is risky. At present, the mainstream of the market is the investment in spot gold. It is recommended that novice friends invest carefully after understanding clearly. I hope my answer is helpful to you.