The concept of "paper gold" in foreign exchange: Special Drawing Rights (SDR) is a reserve asset and accounting unit created by the International Monetary Fund to solve the balance of payments deficit among member countries.
Transaction method:
"Paper gold" business refers to an investment method in which investors buy and sell gold on their 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.
Paper gold is a transactional product, and its operation and quotation are similar to those of Waihuibao. Although there are risks in the gold market, it is much more stable and easier to master than the ever-changing foreign exchange market.
Quotation method
Paper gold quotation method: Banks that have started gold business generally adopt two quotation methods: quotation based on domestic gold price and quotation based on international gold price. According to the domestic gold price quotation, the bank refers to the exchange gold price, market supply and demand situation, international gold market fluctuation and other factors, plus the unilateral commission of the bank, and determines the bilateral quotation of buying and selling; According to the international gold price quotation, the middle price of the bank is the price that the international gold price is converted into RMB, and the bank adds unilateral commission on this basis to form the quotation. The advantage of adopting the international gold price quotation method is that investors can query the international gold price and its trend in real time through the gold news on China Gold Online.
perform formalities
The procedures for handling paper gold business are not complicated. For example, investors can buy and sell paper gold directly at the quoted price by opening a current all-in-one card (Great Wall Electronic Debit Card) at the bank counter with their ID cards. So far, China Bank's "Huang Jinbao" business has realized the functions of telephone banking, online banking and self-service terminal transactions. Investors can easily "speculate" on gold by just making a phone call or clicking a mouse without leaving home.
Banks providing paper gold business all charge 0.5 yuan/gram unilateral commission. Bank of China offers preferential treatment for large transactions. Generally, when purchasing paper gold above 1 000 g (inclusive), the unilateral commission charged by the bank is 0.45 yuan/g, 0.4 yuan above 5000 g (inclusive) and 0.35 yuan/g above 1 000 g (inclusive).
Although investing in paper gold is regarded as the most direct way for investors to enter the international gold market, it allows investors to trade gold freely with a paper account without holding real gold, but investors cannot completely ignore the existence of risks. Since all banks offering gold business charge a unilateral commission of 0.5 yuan/gram, investors should calculate the investment cost when buying and selling gold. 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.
References:
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