② Homogeneity. If this homogeneity condition cannot be met, the exchange will not be able to settle accounts for different market participants.
③ OTC trading. It is difficult to close positions before the settlement date, and market participants in the futures market can hedge at any time before the delivery date.
4 the volatility of the market. Market volatility plays an important role in attracting two basic participants-hedgers and speculators-to enter the futures market.
⑤ Unlimited supply. Unlimited supply of goods has two meanings: first, the market is not controlled by the ruling party and may be monopolized; The second is that the distribution cost is lower.
6. Sufficient spot size. Futures commodities should have sufficient spot supply and demand.
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1, gold
Pure gold is a kind of metal with bright luster, red and yellow color, soft texture, high density and good ductility. It is a rare, precious and extremely valuable metal. It is not only a special currency for reserve and investment, but also an important material for jewelry industry, electronics industry, modern communication, aerospace industry and other departments.
2. How is gold formed?
4.5 billion years ago, when the earth was formed, it was a big fireball with high temperature enough to melt most minerals. Many small celestial bodies in the universe carry some metal elements and gold. When it hit the earth, the meteorite was melted and the gold was left behind. Because of the high density of gold, gold sank into the center of the earth, so now gold mining is underground.
3. Isn't gold money?
Gold is money.
(2) The original paper money is based on gold, which can be freely exchanged with gold, and both can circulate at the same time, so the circulation of paper money is relatively small.
(3) By the end of 19, the capitalist economy had experienced unprecedented expansion and development, and paper money gradually became the main currency in circulation, but they still had gold as the guarantee of issuance.
This monetary system is called the "gold standard".
4. What are the characteristics of gold?
① Strong ductility, 1 g natural gold can be extended to 2 kilometers of gold wire.
(2) The metal elements of gold with high density and high specific gravity are heavier. Among the 23 grades of mineral content, the proportion of gold is as high as 19.3.
(3) Insoluble in acid, gold is difficult to destroy if it is preserved for a long time. Insoluble in acid, it is only soluble in aqua regia, so it can be preserved for a long time.
④ Not easy to be oxidized and deteriorated. At normal temperature and pressure, gold will not be oxidized and deteriorated. After a period of time, its surface will only be covered with dust, and after being erased, it will reproduce bright colors.
⑤ Low hardness, very soft gold has low hardness, and the hardness grade is only 2.5-3. Gold can be pressed into ultra-thin gold foil, as thin as 0.00076 mm, and the thickness is only 1% of that of ordinary copy paper (0.08 mm).