The differences between gold futures contracts and forward contracts are as follows:

1. Different degrees of standardization. Forward contracts follow the principle of freedom of contract. The relevant conditions in the contract, such as the quality, quantity, delivery location and delivery time of the subject matter, are determined based on the needs of both parties; gold futures contracts are standardized, and gold futures exchanges provide various The underlying gold futures contract has standardized terms such as quantity, quality, delivery location, delivery time, delivery method, and contract size.

2. The trading venues are different. Forward contracts do not have a fixed location, and both parties to the transaction find a suitable target independently; gold futures contracts are traded on exchanges, and over-the-counter transactions are generally not allowed.

3. The default risks are different. The performance of a forward contract is only guaranteed by the creditworthiness of both parties. Once one party is unable or unwilling to perform, the other party will suffer losses; the performance of the gold futures contract is guaranteed by the exchange or clearing company.

Gold futures contracts and forward contracts are both contracts that agree to buy or sell a certain amount of a certain subject matter at a certain time in the future according to agreed conditions.