Driven by the international gold price, the domestic gold price has also risen, and the price of investment products has risen by about 16% in two months. Take the Expo gold bars sold by Bank of Communications as an example. The price per gram of natural gold rose from 208 yuan at the beginning of the issue to 248 yuan, an increase of nearly 20%. In addition to physical gold investment, the newly launched gold spot deferred delivery products are also highly sought after. Individual investors have gained more than 50% in a short period of time by using the leveraged trading mechanism. The following author will introduce common gold investment products:
Primary paper gold
Paper gold is bank bookkeeping gold, and investors' trading behavior is only reflected in the "gold account" opened by them, and there is no physical delivery of gold. At present, three banks provide this service, namely China Bank, China Industrial and Commercial Bank and China Construction Bank.
Compared with other gold investment products, paper gold has three characteristics, which is suitable for investors who are new to the gold market and have limited funds. First of all, the threshold is low. The investment starting point of paper gold is 10g. According to the current market price, about 2000 yuan can participate in gold trading. The second is to save money and collect fees in the form of unilateral entrustment. The handling fee for each transaction is 1g, and no account opening is required. Banks will also give different degrees of concessions according to the transaction scale, and the maximum commission will be reduced by 20%. Third, the risk is small. Paper gold has no leverage, long trading time and relatively low investment risk.
Real material, real gold.
Physical gold trading mainly includes gold bars and coins. Among them, the main issuer of gold coins is the central bank, and its value is determined by many factors such as the background, circulation and production technology of gold coins. The actual price trend is not closely related to the gold price. The main issuers of gold bars are Shanghai Gold Exchange and member units, which are divided into investment gold bars and commemorative gold bars. The well-known investment gold bars in the market are the physical gold bars of Gold Exchange, the "Gaosaier Gold Bar" of Chengdu Gaosaier Company, the "Ding Long Physical Gold" of China Construction Bank and the "China Gold Bar" of Admiralty Gold.
The trading threshold of gold bars is slightly higher than that of paper gold. The minimum specification of gold bars of brands such as Gaosaier is 50g each, and the required capital is about 1 1,000 yuan. The "physical gold" business of the gold exchange takes the hand as the trading unit, and the hand is100g, and the required capital is about 20,000 yuan. It should be reminded that the gold exchange does not implement the repurchase system. If investors withdraw physical gold, gold cannot enter the circulation system and directly participate in market transactions.
In terms of price and cost, the physical gold of the gold exchange adopts the way of on-site transaction matching, and the bank acts as an intermediary to place orders for investors and conduct on-site matching transactions with other participants of the gold exchange. The transaction cost is determined by the percentage of the transaction amount. For example, the transaction fee rate of Bank of Communications agents is only 0.2%. The buying and selling prices of brand gold such as Gaosaier Gold Bar and Dinglongjin are based on real-time gold quotation, plus certain processing fees and handling fees, and the total cost is between 3.5 yuan and 20 yuan per gram. There are great differences between different varieties of products in terms of quotation methods, transaction costs and transaction channels.
Master gold derivatives
Paper gold trading and physical investment in gold are both leveraged transactions, which are suitable for investors with low risk appetite. At the same time, they have a common shortcoming, that is, they can only look in one direction and cannot short in the opposite direction. As a result, gold derivatives such as gold futures and gold T+D business appeared one after another. Whether the price of gold goes up or down, investors are profitable. However, because most of the gold derivative trading products use margin trading, there is leverage amplification effect, which belongs to high-risk and high-yield products, and is more suitable for investors who have professional gold investment knowledge, are familiar with leveraged products and can bear certain risks.
Gold futures are standardized contracts provided by Shanghai Futures Exchange. The trading unit is 65,438+0,000 grams per lot. If the minimum trading margin is 7% of the contract value, the theoretical minimum capital for investing in gold futures is about10.5 million yuan. Because the gold exchange stipulates that natural persons are not allowed to make physical delivery, traders involved in gold futures contract trading must sell and buy back the same number of contracts held before the contract expires, that is, close their positions. The profit or loss of each transaction is equal to the difference between two contracts in opposite directions.
One year after the introduction of futures products, the gold spot deferred settlement product (gold T+D trading) of Shanghai Gold Exchange was officially opened to individual investors in February this year. Investors participating in the trading can choose to deliver gold on the trading day, postpone delivery or conduct two-way trading. The minimum trading unit of gold T+D business is 1 000g of gold1lot, and the margin ratio is 20%. Accordingly, the threshold for participating in this new business is about 42,000 yuan. The handling fee of the whole transaction is four ten thousandths of the transaction amount. T+D trading has no time limit. If investors close their positions after the agreed delivery date, they need to pay a certain deferred transaction fee.
Clever use of external force to link gold
Gold-linked wealth management products usually use London gold and international gold fund prices as investment targets. When the target price or its fluctuation range meets the preset position or range, investors can get higher returns. For example, the Bank of East Asia recently launched a capital preservation wealth management product linked to the international gold fund, stipulating that investors can share the increase of the fund by 0.8 times as long as the increase of the linked fund does not exceed 20% within 9 months. If the linked fund rises by more than 20%, investors can get an annualized rate of return equivalent to time deposits at maturity. If the linked fund falls, the minimum income for investors is the interest on demand deposits. In the current optimistic environment of gold, investors holding idle funds may wish to give it a try.
In addition, investors can also choose China Bank Shanghai Branch's "Futures Jinbao" and "Two Jinbao" products to invest in gold options. Finally, it should be reminded that there are risks in gold investment. Investors should pay close attention to the economic trends of the United States, the European Union and other countries and regions, and keep abreast of the indexes of financial products such as the US dollar, oil and US stocks.