Paper gold refers to the Special Drawing Rights (SDR), which refers to buying and selling gold on the books.
At present, the gold business provided by banks can be roughly divided into two types: physical gold business and paper gold business.
Physical gold business refers to the purchase and sale of physical gold, which is the first choice for those who pursue gold preservation and is suitable for investors with long-term investment, collection and gift needs. Taking BOC as an example, the bank's physical gold business is divided into its own brand entity gold business and its agent sales entity gold business. As a banking partner of Beijing 2008 Olympic Games, our bank recently launched a series of physical gold products with the theme of Olympic Games, and the market response was quite enthusiastic.
"Paper gold" business refers to an investment method in which investors buy and sell gold on the books to earn the difference. Even people who have never tried any gold or foreign exchange trading are relatively easy to get started. As long as you master some trading skills and pay attention to market progress, you can gain something. China Bank Shanghai Branch launched "Huang Jinbao" on June 5438+065438+ 10, 2003, which belongs to paper gold business. Investors can buy and sell paper gold directly through counters, telephone banking, online banking and self-service financial terminals according to the "Huang Jinbao" quotation. Compared with real gold, there is no second clearing and delivery of real gold in the whole process of paper gold, thus avoiding the procedures of color identification and weight detection in gold trading and omitting the operation process of physical delivery of gold. For investors who are willing to "speculate in gold", the transaction of paper gold is simpler and more convenient, and there is more room for profit.
Gold-linked foreign exchange wealth management products are another new investment tool. Its income is linked to the international gold price. The smaller the fluctuation of gold price during the investment period, the higher the investor's yield. It is suitable for investors with stable investment style and foreign exchange financing needs to judge the recent trend of gold prices. Take China Bank Shanghai Branch as an example. Not long ago, the bank launched a new issue of Huijubao, in which the product income of "dollar gold is easy to seek gold" is linked to the international gold price. Assuming that the price of gold per ounce is between $465,438+05 and $450 on a certain day in the investment period, the annual income of customers on that day is 5.00%.
Although investing in paper gold is regarded as the most direct way for investors to enter the international gold market, so that investors can freely trade gold with only one paper account without holding real gold, investors cannot completely ignore the existence of risks. At present, all banks offering gold business charge a unilateral commission of 0.5 yuan/gram, so investors should calculate the investment cost when buying and selling gold, and only when the price of gold rises 1 yuan/gram will they make a profit. Investors should not blindly follow the market fluctuations and frequently go in and out, otherwise they will not only bear market risks, but also the handling fee for buying and selling single gold back and forth is not a small expense. According to industry insiders, although the current price of gold is relatively high, there is still a chance to make a profit by taking advantage of the opportunity of gold to fall back and intervene at the price support point.
The difference between option trading and futures trading lies in:
First, when the two parties to an option transaction sign a contract or conclude a transaction, the option purchaser must pay the option fee to the option seller, such as 2 yuan or 3 yuan per share, while the two parties to a futures transaction do not have any economic relationship when signing a contract or concluding a transaction.
Secondly, the option trading agreement itself belongs to spot trading, and the purchase and sale of options and the payment of option fees are carried out simultaneously. (Slightly different from spot trading, spot trading has not been settled after delivery, and stock trading is agreed in the future. If no transaction is made after delivery, the stock will be bought and sold within the validity period agreed in the future agreement. ) and the delivery of futures trading is carried out within the agreed delivery period.
Third, the legal relationship between the two parties to the option transaction will not be dissolved immediately after delivery, because although the rights have been transferred, the realization of the option will be in the future, and the legal relationship between the two parties will only end when the agreement expires, while the legal relationship between the two parties to the futures transaction will be dissolved after delivery.
Fourth, during the delivery period of option trading, the option buyer does not undertake any obligation and decides whether to implement the agreement according to the change of stock price. If the situation changes unfavorably, the requirements for the option holder can be waived, and the obligations for the agreement holder are only borne by the option seller, while the two parties to the futures trading assume obligations for each other within the validity period of the agreement.
Fifth, the agreement holder of option trading can transfer and sell the agreement. No matter how many times it is transferred, the ultimate holder of the agreement has the right to ask the seller of the option to implement the agreement within the validity period, and neither party to the futures trading agreement has the right to transfer it.
Sixth, the maximum risk of investment options is directly proportional to the fluctuation of stock price. The greater the fluctuation of stock price, the greater the risk.