Paper gold trading is a book gold trading without spot gold delivery, so it is also called "bookkeeping gold trading". Like futures gold, its price is affected by the international gold price, but it is not futures. Investors can trade paper gold through some banking institutions, and their trading rules are different from those of gold futures.

The difference between paper gold trading rules and gold futures;

1, transaction time difference

Paper gold is traded 24 hours a day, but domestic gold futures are not. For example, the trading hours of Shanghai Gold Exchange are: 20: 00-2: 30 pm (night trading) and 9: 00- 15: 00 am (day trading) the next day.

2. Different trading mechanisms.

Paper gold can only be traded in one direction, that is, it can only be traded long and short, and there is no leverage trading mechanism, while gold futures can be traded in two directions, that is, it can be traded long and short, which is leverage.

The profit model of paper gold trading is to obtain the difference profit by buying low and selling high. Compared with physical gold, its transaction is more convenient and faster, and the transaction cost is relatively low, which is suitable for short-term operation of professional investors. Paper gold is generally issued by commercial banks, gold companies or large gold retailers with strong financial strength and good reputation in the gold market, such as gold time deposit certificates issued by commercial banks, gold bills of exchange and gold account passbooks, gold bills of lading or gold storage certificates issued by Shanghai Gold Exchange, and gold bonds issued by gold enterprises.

In the process of buying and selling paper gold, because there is no secondary settlement and delivery between banks and individual investors, the procedures of color signing and weight detection in gold trading are reduced, the operation process of physical delivery of gold is simplified and the circulation speed of gold trading is accelerated. At the same time, the deposit in the customer's gold passbook account can be used for selling transactions, and can also be used as collateral or margin to apply for a gold loan from the bank. Therefore, the introduction of paper gold trading will bring great convenience to individual investors who participate in the trading.