London gold market 1
London gold market has a long history. Its development history can be traced back to more than 300 years ago. 1804, London replaced Amsterdam in the Netherlands as the world gold trading center. 19 19, the London gold market was formally established, and gold was priced twice every morning and afternoon. The gold market price of that day was set by the five major gold banks, which has been affecting the transactions between new york and Hongkong. The supplier of market gold is mainly South Africa. Before 1982, the London gold market was mainly engaged in spot trading of gold. 1April, 982, London gold futures market opened. At present, London is still the largest gold market in the world.
2. Zurich Gold Market
Zurich gold market developed after World War II, while London gold market closed down twice. The price of gold in Zurich market is as important as that in London.
The gold market in Zurich has no formal organizational structure, but the three major Swiss banks: UBS, Credit Suisse and UBS are responsible for clearing and settlement. The three major banks not only do customer transactions, but also do gold transactions. Zurich Golden Pool was established on the basis of informal consultations among the three major Swiss banks and is not under the jurisdiction of the government. As a mixture of dealers and clearing systems, Zurich gold pool plays an intermediary role in the market.
3. American gold market
The gold markets in new york and Chicago developed in the mid-1970s. The main reason is that after 1977, the dollar depreciated, and Americans (mainly corporate bodies) made profits by hedging and investment appreciation, which made gold futures develop rapidly.
At present, the New York Mercantile Exchange and Chicago Mercantile Exchange (IMM) are not only the gold futures trading centers in the United States, but also the largest gold futures trading centers in the world. The two major exchanges have a great influence on the price of gold in the spot gold market.
4. Hong Kong Gold Market
Hong Kong gold market has a history of more than 90 years, and its formation is marked by the establishment of chinese gold and silver exchange society. From 65438 to 0974, the Hong Kong government lifted the control on the import and export of gold, and the gold market in Hong Kong has developed rapidly since then. As the time difference of Hong Kong gold market just fills the gap between the closing of new york and Chicago and the opening of London, it can connect Asia, Europe and the United States to form a complete world gold market. Its superior geographical conditions have attracted the attention of European gold merchants, and five big gold merchants in London and three big banks in Switzerland have set up branches in Hong Kong. They brought the gold trading activities settled in London to Hong Kong, and gradually formed an invisible local "London gold market", making Hong Kong one of the major gold markets in the world.
5. Tokyo gold market
Tokyo gold market was established in 1982, and it is the only gold futures market officially approved by the Japanese government. Most of the members are Japanese companies. In the gold market, the purchase price is yen per gram, the standard gold purity is 99.99%, the weight is 1 kg, and each transaction contract is 1 1,000 grams.
6. Singapore Gold Exchange
Singapore Gold Institute was established in June 1978+0 1. At present, spot gold and five futures contracts of 2, 4, 6, 8 and 10 months are often traded. The standard gold is 100 ounce of 99.99% pure gold with stop loss limit.
7. Shanghai Gold Exchange
Shanghai Gold Exchange has been in operation since October 30th, 2002. It is a legal person established by the People's Bank of China with the approval of the State Council. It performs the functions stipulated in the Measures for the Administration of Gold Exchanges, organizes gold trading in accordance with the principles of openness, fairness, justice, honesty and credit, and is not for profit, and implements self-discipline management.