There is a difference between gold futures contracts and forward contracts. First of all, gold futures are the sale of standard contracts, which both buyers and sellers must abide by, while forward contracts are generally signed by buyers and sellers according to their needs. The content of each forward contract is different in terms of gold fineness grade and delivery rules. Secondly, the transfer of futures contracts is more convenient and can be bought and sold at market prices, while the transfer of forward contracts is more difficult, and it cannot be transferred unless a third party is willing to accept the contract; Thirdly, most futures contracts close their positions before the expiration, which has certain speculative and investment value, and the price fluctuates greatly, while forward contracts generally deliver physical objects after the expiration. Finally, gold futures trading is conducted on fixed exchanges, while forward trading is generally conducted over the counter.