Au(T+5) transaction refers to the installment payment with a fixed settlement period of 5 working days (including the trading day). The buyer and the seller set up a sales contract with a certain proportion of deposit (65,438+0.5% of the total contract amount). The contract cannot be transferred, only a new warehouse can be opened. The net position of an expired contract, that is, the position of a sales contract with the same delivery period, must be delivered in kind. If one of the buyers and sellers breaches the contract, the other party must pay a penalty of 7% of the total contract amount. If both parties breach the contract, both parties must pay 7% penalty to the Gold Exchange.

Au(T+D) transaction refers to the immediate deferred delivery business conducted by margin. The buyer and the seller establish a sales contract with a certain percentage of deposit (65,438+00% of the total contract amount). Unlike Au(T+5) transaction, the contract does not need physical delivery, and buyers and sellers can buy and sell the held contract according to market changes. During the holding period, there will be a delay fee of two ten thousandths of the total contract amount every day (the payment direction depends on the situation of the delivery declaration on the same day, for example, if the customer holds a purchase contract and the delivery declaration on the same day is that the received quantity is more than the delivered quantity, then the customer will get a delay fee, and vice versa). If the buyer and seller choose physical delivery to close the position, the contract will be converted into full transaction. After the successful delivery declaration, if one of the buyers and sellers breaches the contract, the other party shall pay a penalty of 7% of the total contract amount. If both parties breach the contract, both parties must pay 7% penalty to the Gold Exchange.