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What is futures premium and what is discount?
At a specific time and place, the futures price of a specific commodity is higher than the spot price, which is called futures premium; The futures price is lower than the spot price, which is called futures discount. The difference between premium and discount, forward exchange rate and spot exchange rate is expressed by premium, discount and flat price. Premium means that the forward exchange rate is higher than the spot exchange rate, while the discount is the opposite. In general, the currency forward exchange rate with higher interest rate is mostly discount, and the currency forward exchange rate with lower interest rate is mostly premium.

In the futures market, the spot price is lower than the futures price, the basis is negative, and the forward futures price is higher than the recent futures price. This situation is called "futures premium", also known as "spot discount", and the forward futures price exceeds the recent price, which is called "futures premium rate"; If the forward futures price is lower than the recent futures price, the spot price is higher than the futures price, and the basis is positive. This situation is called "futures discount" or "spot discount". The part where the forward futures price is lower than the recent futures price is called "futures discount rate".

What is premium spot?

Spot premium means that the spot price is higher than the futures price, which is a reverse market and a depressed market. Spot prices rose to futures prices, and near contracts rose to near contracts. Spot premium is not uncommon in general commodities, and it is usually affected by the continuous decline of inventory. Spot premium is extremely rare in the gold market. Unlike other commodities, gold will not be consumed; It is stored. There is always a premium between the futures price and the spot price, and between the previous month's contract and the previous month's contract. Considering the futures account fee plus 90% of 1 cent unconditionally returned to the futures account 52ol.cn, the warehousing cost and the opportunity cost.