Also known as TD, gold and silver deferred trading varieties, referred to as T+D business. "T" is the initials of Trade and "D" is the initials of Delay. The so-called T+D refers to the standardized contract made by Shanghai Gold Exchange, which stipulates that a certain number of subject matter will be delivered at a specific time and place in the future. This subject matter, also called the underlying asset, is the spot corresponding to the T+D contract. Its characteristics are: installment trading, traders can choose the same day delivery or indefinite extension of delivery. T+D contract includes: contract name, trading unit, quotation unit, minimum fluctuation price, maximum fluctuation limit of daily price, trading time, delivery date, delivery level, delivery place, minimum trading margin, transaction cost, delivery method and trading code. The annexes to the gold T+D contract have the same legal effect as the gold T+D contract. T+D market is a market for buying and selling precious metal T+D contracts. This kind of transaction involves producers and operators who transfer the risk of price fluctuation and venture capitalists who bear the price risk and make profits. Fair competition shall be conducted in the exchange according to law and guaranteed by the margin system. A notable feature of the margin system is that it uses less money to make larger transactions, and the margin is generally 10% of the contract value. Compared with stock investment, investors' investment funds in the gold T+D market are much smaller than other investments, commonly known as "small bets". The purpose of precious metal T+D trading is not to obtain physical objects, but to avoid price risks or arbitrage, and generally does not realize the transfer of commodity ownership. The basic function of T+D market is to provide producers and operators with the means of hedging and avoiding price risks, and to form a fair price through fair and open competition. Interested in investing in precious metals can add Q for details,1019519565438.