20 1 1 the State Council issued document No.38, "the State Council's decision on cleaning up and rectifying all kinds of trading places to effectively prevent financial risks", which pointed out that except for futures trading places established with the approval of the State Council or the State Council futures regulatory authorities according to law, no unit may conduct standardized contract trading by centralized trading methods such as centralized bidding, electronic matchmaking, anonymous trading and market makers.
Trading places engaged in the trading of insurance, credit, gold and other financial products must be approved by the relevant financial management departments of the State Council.
At present, precious metals investment is dominated by spot silver and some physical gold that can be traded on trading platforms, and there are many illegal platforms, such as Loco London Gold and London Silver, which are quoted in US dollars. Over the years, there have been many fraud cases, which require investors to be cautious.