Gold T+D refers to the standardized contract made by Shanghai Gold Exchange, which stipulates to deliver a certain number of subject matter at a specific time and place in the future. What are the expected annualized expected returns and risks of investing in gold T+D? 1. The risk of investing in gold T+D is lower than that of spot gold because its price fluctuation is small. The domestic spot price of gold follows the fluctuation of the international gold price, and the fluctuation of the international gold price of 3% per day is already great, so the price of gold T+D can't be as big as that of spot gold. 2. From the setting of trading time and delivery date, it is far safer to invest in deferred products than futures. Gold T+D is a deferred transaction, and there is no fixed delivery date. It can always hold positions and invest for a long time to reduce transaction costs. Moreover, this product has night trading, which can prevent the risk of excessive fluctuation of gold prices in the US market overnight. According to the trading hours of the gold exchange, the exchange has auction trading from 20: 50 pm to 2: 30 am the next day from Monday to Thursday, which happens to be the trading time of the international gold price market and the time period that gold investors are most concerned about. 3. The T+D variety of gold in the gold exchange adopts the leveraged trading mode, and individual investors can trade in full as long as they pay a deposit of about 10%, which doubles the efficiency of capital use and allows customers to use idle funds to participate in other market investments. The existence of leverage also magnifies the original spread income. In contrast, bank paper gold is generally traded in full, and the occupation cost is high. 4. Spot gold and paper gold can only get the expected annualized expected return through the difference between buying low and selling high, but gold T+D can be short. As long as the market judges accurately, it can also make a profit when it falls, which makes short-term traders also welcome by the market. The two-way trading mechanism gives individual investors a "brake" to participate in the gold market, but it does not increase the investment risk of gold deferred products. 5. Low margin rate leads to high leverage, and low transaction fee rate can reduce operating costs. The margin rate and handling fee rate of gold T+D business in different banks are different! What should be explained here is that spot gold trading is a high-risk and high-return investment. The investment risk of gold futures options is higher. This is because futures options use margin, and the leverage of margin trading not only doubles profits, but also doubles losses.