1, different platforms: gold futures belong to internal gold trading in China domestic market, and spot gold belongs to international spot gold.
2. Difference of delivery time: Futures refers to standard contracts with delivery time limit, while spot gold delayed delivery business generally has no delivery time limit.
3. The difference between a market maker and an exchange: Futures trading generally requires centralized matchmaking trading on a futures exchange. There is no centralized matchmaking exchange in the London Gold Exchange, and the London Gold Exchange has the largest market transaction volume and scale in the international gold market.
4. The price formation mechanism is different: the spot gold transaction price is quoted by the gold market maker, and the customer decides whether to trade with the market maker according to the market maker's quotation. The price formation mechanism of futures trading is the price formed by centralized bidding of all traders in the exchange.
5. Minimum trading volume: futures gold: 1 1,000 grams, with a minimum of 20,000 yuan, which is a little more than 20,000 according to the current gold price (actual value is 200,000, futures 10% margin); Spot gold: 10 ounce minimum 0. 1 demand 100 USD, about RMB 720 yuan. (Take $880 as an example, the actual value is $8,800)
6. Transaction costs: 60 yuan/1000g is charged for buying and selling futures gold. Take 1000g as an example, and the handling fee is 60 yuan/1000g *200 yuan/g =0.0003. If you receive double copies every other day, it is 0.0006, which is three thousandths to six thousandths. One day, 60 yuan will be collected unilaterally, and the other day, it will be collected bilaterally, that is, 120 yuan. Spot gold: Take 1 1 spread as an example. The current price of $880 is calculated by 100 ounces, and 1 10 * 880 USD =0. 00 125, which is 1 per thousand. 25. Fluctuate according to the fluctuation of gold price.
7. Daily price fluctuation: futures gold: no more than 5% of the settlement price of the previous trading day, and price fluctuation is limited. Spot gold: there is no price limit, and the market fluctuates 150% to 200% every day, even higher if there is an emergency.
8. Investment amount: futures gold: the minimum investment amount is 50,000, and the minimum trading volume is 20,000/50,000, that is, one-fifth warehouse operation. Spot gold: minimum investment 1000 USD. One-tenth to one-sixth of the warehouse operation, the spot gold investment amount can be more or less, and the capital leverage ratio is 100 times, which enlarges the capital operation;
9. Suitable for the crowd: futures gold: the investment is relatively high, which is suitable for group operations with idle funds100000 yuan or more. Spot gold: civilian, small scattered. Like paper money, it is suitable for white-collar workers to earn extra money at night.
10, different risks: any investment has risks, and the risks are as big as the benefits. The safety of funds is very important! Futures gold: Due to the large demand for funds, the amount of funds in a transaction is also large, and the risk coefficient is relatively high. However, there is a limit to the ups and downs, and the maximum daily loss is 5%. Spot gold selection platform should be formal (/? 333), there are a considerable number of platform vendors and service providers, so the risk will be relatively low.