Introduction of gold investment varieties 1. Real gold trading includes gold bars, coins, gold ornaments and other transactions, with holding gold as an investment. High investment, although the actual rate of return is the same as other methods, but only when the price of gold rises can it be profitable. Generally, the buying and selling prices of decorative gold are quite different, so it should not be regarded as investment. Gold bars and coins are the best choice for real gold investment because they do not involve other costs. However, it should be noted that holding gold does not generate interest income. There are two kinds of gold coins, namely pure gold coins and commemorative gold coins. The value of pure gold coins is basically the same as the gold content, and the price fluctuates with the international gold price, which has the functions of beauty, appreciation, strong liquidity and preservation. The more gold coins there are, the more memorable they are, and the more difficult it is for ordinary investors to identify their value. Therefore, investors are of high quality, mainly satisfying the collection of coin collectors, and the investment value-added function is not great. Spot investment in gold has two defects: it has to pay for storage and security, and there is no interest income from holding gold. At present, the physical gold trading varieties are Au99.99 and Au 100g. The quotation method is RMB/gram, and the minimum transaction volume is 100g. Physical gold has a good anti-inflation function, which is more suitable for investors who want to preserve their value for a long time and have real demand for gold withdrawal, and the two-way transaction fee is only 15/10000 of the total transaction amount (about 0.48 yuan/gram), which is lower than paper gold. However, judging from the original firm offer in the past two years, the shortage of physical gold supply is a serious injury in this field; Moreover, the speculation of physical gold needs to be cashed out, and the domestic delivery site is very limited, which is inconvenient for small and medium investors. For example, the business scope of the issuing bank, Industrial and Commercial Bank of China, Shanghai Branch and Industrial Bank, and whether the national trading varieties in Shanghai, such as Au99.99, Au 100g, Au 99.99 and Au 100g, can extract physical gold. The minimum pick-up quantity of Au99.99 is 1000g or its integer multiple, and the minimum pick-up quantity of Au 100g is 100g or its integer multiple, which can be the lowest starting point. Shanghai Gold Exchange quotes 100g. Trading hours are at night: 2 1: 00-2: 30 (Monday to Thursday), in the morning:10: 00-1:30 (Monday to Friday) and in the afternoon: 65438+. All business outlets and Gaosaier websites have timely announcements. Real-time trading customers can sell their gold bars of Gaosaier standard to Gaosaier Gold and Silver Company at the listed purchase price at the time of sale. Variety, quality, measurement and pricing standards of purchase and sale. There are three specifications for the standard gold bars of Gossel: 2 ounces, 5 ounces and 10 ounce. The quality standard of the standard gold bar of Gaosaier: the gold content is greater than or equal to 99.99%, the unit of measurement is troy ounce (1 ounce = 31.1035g), and the unit of quotation is RMB per ounce. Buying and selling procedures The processing fee of Gaosaier standard gold bars is RMB 109 yuan per ounce. Trading hours are from 9: 00 am to 12: 00 am and from 13: 00 pm to 16: 30 pm every day. Second, paper gold "paper gold" is a kind of personal voucher gold. Investors buy and sell "virtual" gold on the books according to the bank quotation. Individuals earn the fluctuation price difference of gold price by grasping the trend of international gold price. Investors' transaction records are only reflected in the "gold passbook account" opened by individuals in advance, and there is no cash withdrawal and delivery of real money and silver. Huang Jinbao of China Bank, Gold Expert Account Fund of Industrial and Commercial Bank and Account Fund of China Construction Bank all belong to this category. Take the gold account of ICBC as an example. There are two trading varieties of gold (grams)/RMB and gold (ounces)/US dollar. Gold (gram)/RMB trading business uses RMB as the pricing currency, and the trading unit is gram, with the minimum trading volume of 10g. The trading quotation is determined according to the international gold price (USD/oz) and the corresponding price difference between USD/RMB. Gold (ounce)/USD is denominated in USD, the trading unit is ounce, and the minimum trading volume is 0. 1 ounce. According to the current international gold price, 1600 yuan can engage in "gold speculation" business. The "paper gold" business of ICBC and BOC is a 24-hour continuous transaction, so the international market will have different situations based on different time periods. The "paper gold" business is a touchstone for junior investors to be familiar with the gold market because of its simple operation. At the same time, the price of gold has certain volatility, which is suitable for short-term band operation and speculation. However, account gold is a virtual sale of gold, which has no hedging function and cannot resist inflation risks. Note: the bank's bid/offer price is just the opposite of yours. If you want to buy it, it depends on the bank's quotation. It is suggested to choose Bank of China or Industrial and Commercial Bank of China. Bank of China online banking is not allowed to transfer money, and ICBC has a U shield, which is relatively safer. There are two kinds of paper gold: RMB gold and US dollar gold, and you can choose freely. In the process of buying and selling paper gold, because there is no secondary clearing and delivery between banks and individual investors, the procedures of color identification 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. The price signs of paper gold trading are divided into buying price and selling price, and the difference between buying price and selling price is the difference of paper gold trading. The bid price is the price at which the bank buys gold from customers, and the selling price is the price at which the bank sells gold to customers. Because Huang Jinbao does not deliver physical gold, it saves some steps such as transportation, storage, inspection and appraisal of gold, so the extra cost is less than that of physical gold, that is, the difference between the purchase price and the selling price is smaller than that between the purchase price and the selling price. At present, the middle price of paper gold trading initiated by domestic commercial banks is the benchmark price for commercial banks to trade in Shanghai Gold Exchange. The secondary settlement fees for on-site transactions such as taxation, transportation insurance, warehousing, and bank handling fees are reflected by the difference between the purchase price and the selling price. Banks no longer charge investors other transaction fees, and banks do not pay deposit interest to depositors. III. Gold Margin (Spot Gold) Since 2005, the Shanghai Gold Exchange has launched a gold T+D trading variety, referred to as TD, which is a gold deferred settlement trading variety, commonly known as "gold quasi-futures". It refers to a spot trading mode in which members and customers can choose to deliver on the contract trading day or postpone delivery to the next trading day, and at the same time introduce a deferred compensation mechanism to stabilize the contradiction between supply and demand. At present, the exchange implements the down payment system of 10%, which can delay delivery, which is equivalent to the deposit of gold futures of 10%. The difference is that there is no delivery period, investors can hold positions permanently or apply for delivery on the day of subscription. Margin transaction type: Au(T+5) and Au(T+D) Au(T+5) transactions refer to the installment payment with a fixed delivery period of 5 working days (including the transaction day). The buyer and the seller set up a sales contract with a certain proportion of deposit (65,438+0.5% of the total contract amount). The contract cannot be transferred, only a new warehouse can be opened. The net position of an expired contract, that is, the position of a sales contract with the same delivery period, must be delivered in kind. If one of the buyers and sellers breaches the contract, the other party must pay a penalty of 7% of the total contract amount. If both parties breach the contract, both parties must pay 7% penalty to the Gold Exchange. Au(T+D) transaction refers to the immediate deferred delivery business conducted by margin. The buyer and the seller establish a sales contract with a certain percentage of deposit (65,438+00% of the total contract amount). Unlike Au(T+5) transaction, the contract does not need physical delivery, and buyers and sellers can buy and sell the held contract according to market changes. During the holding period, there will be a delay fee of two ten thousandths of the total contract amount every day (the payment direction depends on the situation of the delivery declaration on the same day, for example, if the customer holds a purchase contract and the delivery declaration on the same day is that the received quantity is more than the delivered quantity, then the customer will get a delay fee, and vice versa). If the position is held for more than 20 days, the exchange will charge an overdue fee of 0. 1 ‰ on each trading day (at present, the cash is withdrawn first). If the buyer and seller choose physical delivery to close the position, the contract will be converted into full transaction. After the successful delivery declaration, if one of the buyers and sellers breaches the contract, it shall pay a penalty of 7% of the total contract amount to the Gold Exchange. If both parties breach the contract, they must pay 7% penalty to the Gold Exchange. Four. International spot gold trading 1. Investment amount: above 50,000 RMB, the greater the capital investment, the smaller the risk. 2. Trading time: 8: 00 am in summer time (Beijing time)-2: 30 am in winter time (Beijing time): 8: 00 am-3: 30 am the next day 3. Revenue: Revenue = (selling price-buying price) X 100 X 7.8 X interest handling fee 4. 5. Transaction price difference: 0.5 USD/oz. 6. Operation method: Investors can enter the spot gold market only after signing a contract with the company and opening an account by themselves, and the investors themselves (or entrusted dealers) conduct gold trading. Gold investment can be operated in two directions, buying low and selling high to earn the difference, or selling high and buying low to earn the difference. The starting point of the order is 1 lot, that is 100 ounce. There is no limit to the number of orders, and the deposit per hand is 1 10,000 yuan. T+0 mechanism is adopted, that is, customers can buy or sell at any time. V. Gold Futures Generally speaking, buyers and sellers of gold futures sell and buy back contracts with the same number as the previous contracts before the contract expires, that is, they close their positions without actually delivering real money and silver. The profit or loss of each transaction is equal to the difference between two contracts in opposite directions. This way of buying and selling is what people usually call "speculating in gold". Gold futures contract trading only needs a margin of about 10% of the transaction amount as the investment cost, with high leverage and a small amount of funds to promote large transactions. Futures company