The Regular Precious Metals Trading Center pointed out that since the State Council issued Document No.38 to rectify the trading market earlier, the central bank and other five ministries and commissions jointly issued a document prohibiting any institution or individual except Shanghai Gold Exchange and Shanghai Futures Exchange from setting up a gold exchange or gold trading platform.

According to the relevant documents, the State Council issued document No.38 "the State Council's Decision on Cleaning up and Rectifying Various Trading Places to Effectively Prevent Financial Risks" on 201/KLOC-0, which pointed out that no unit may conduct standardized contract trading by centralized bidding, electronic matching, anonymous trading, market maker and other centralized trading methods, except for futures trading places approved by the State Council or the State Council futures regulatory authorities according to law. Trading places engaged in the trading of financial products such as insurance, credit and gold must be approved by the relevant financial management departments of the State Council.

At present, precious metals investment is dominated by spot silver and some physical gold that can be traded on trading platforms, and there are many illegal platforms, such as Loco London Gold and London Silver, which are quoted in US dollars. Over the years, there have been many fraud cases, which require investors to be cautious.