The contents of gold t d contract include: contract name, trading unit, quotation unit, minimum fluctuation price, maximum fluctuation limit of daily price, trading time, delivery date, delivery grade, delivery place, minimum trading margin, transaction cost, delivery method and transaction code. The attachment of a gold forward contract has the same legal effect as a gold forward contract.
The gold futures trading market is a market for buying and selling gold futures contracts. This kind of transaction involves producers and operators who transfer the risk of price fluctuation and venture capitalists who bear the price risk and make profits. Fair competition shall be conducted in the exchange according to law and guaranteed by the margin system. A notable feature of the margin system is that it uses less money to make larger transactions, and the margin is generally 10% of the contract value. Compared with stock investment, investors' investment funds in the gold T&D market are much smaller than other investments, commonly known as "taking small bets and making big ones". The purpose of gold T&D trading is not to obtain physical objects, but to avoid price risks or arbitrage, and generally does not realize the transfer of commodity ownership. The basic function of gold T&D market is to provide producers and operators with the means of hedging and avoiding price risks, and to form a fair price through fair and open competition.
What kinds of t d are there?
Trading variety au(t d) ag(t d)
Trading margin 10%
Trading unit 1 kg/hand 1 kg/hand
The lowest change price is 0.0 1 yuan/g 1 yuan/kg.
Quotation bits/gram yuan/kg
Trading methods: free quotation, matching and liquidation.
Trading principle, price first, time first.
Trading time:
Daily quotation: every Monday to Friday (except national holidays)
09:00 - 1 1:30 13:30 - 15:30
Night market: every Monday to Thursday (except national holidays)
2 1:00 - 02:30
A trading day starts at 2 1 o'clock every day and ends at 15: 30 the next day.
The difference between gold t d and paper gold and stocks
Gold t d is introduced by Shanghai Gold Exchange, which is similar to stocks, but better than paper gold.
1. The trading time is flexible, which is more suitable for investors who usually need to go to work.
Trading time of gold "t d": 9: 00-11:3013: 30-15: 3021:00-02: 30. Because "t d" can be traded at night, and the fluctuation is the most active.
2. Diversified trading, short-selling mechanism, don't worry about the funds being locked up.
There are many people in China who are trading stocks now. Among the many investors whose funds are not covered, how many are there? It should be said that there are very few. Once the funds are locked up, it will usually be more than one year. They can only make a profit when the share price rises. If it keeps falling, it can only wait or lighten up, and investors are passive. Gold "t d" has a short-selling mechanism. Once the market reverses after multiple orders enter the market, you can even out multiple orders and short the backhand. This will not only make up for the lost money, but also make a profit. Investors will be more active and flexible, instead of passively waiting for the market like stocks.
For example, it is now 165 per gram, and you think it will fall now. Now you can sell gold at the price of 1 g 165. You have an order for 165 yuan, 1 gram of gold. When the price reaches 160, you can buy gold again to make it equal to your previous one.
3. Margin mode-using the "leverage" principle, the investment is less.
More and more investors are willing to invest in the gold market, mainly focusing on the role of gold in maintaining value. The traditional physical gold investment, with large one-time investment and complicated transaction procedures, has discouraged many investors. Gold "t d" business provides investors with a very perfect trading platform, and they only need 10% margin to invest. This trading method reduces the financial pressure of market participants and is a real gold investment.
For example, according to the price of 150 yuan/gram, buying gold in one hand is one kilogram.
Traditional physical gold trading requires investors to invest 6.5438+0.5 million yuan at a time, and then take away one kilogram of gold, and then take it to the exchange for sale after the price of gold rises to earn the difference. This will not only delay investors' time, but also generate certain risks. If you do it in the "t d" business, you only need 65,438+00% of 65,438+05,000-65,438+05,000, and you can do it yourself at home, which not only saves investors' time, but also eliminates the risks brought by carrying gold with you and makes money easily.
4. There is no delivery time limit, which greatly reduces the operating cost.
There is no time limit for the delivery of gold "t d" business, and investors can hold it as long as they want, so it is not necessary to deliver gold regardless of the price after maturity, which can greatly reduce the operating costs of investors.
5, the formalities fee
In terms of procedures, the bilateral spread of bank spreads is 0.8- 1 yuan/gram; The Shanghai Gold Exchange draws 15/10000 of the total transaction amount (about 0.48 yuan/gram). Bank gold is a firm transaction with a large amount of funds. However, t d gold deferred trading in Shanghai Gold Exchange adopts margin mode, which can be operated with only 10% capital. There is also a short-selling mechanism, that is, you sell at a high price first, and then buy at a low price to close the position and earn the difference.
6. Emerging investment products have great market potential in China.
At present, the per capita gold possession in China is 3.5 grams, while the world average is 25 grams. In this regard, China's gold market still has broad prospects. With the development of China's economy, people's needs are constantly changing. When food, clothing, housing and transportation are all solved, it is bound to be a problem of "hiding", that is, the problem of family reserves. No matter which country's currency is more or less risky, what is needed here is gold. Since ancient times, everyone has been convinced of the value preservation function of gold.