Paper gold does not belong to futures. Paper gold is also called account gold and voucher gold. Investors buy and sell virtual gold on the books according to the bank quotation, and individuals earn the fluctuating price difference by grasping the gold price.

Gold futures refer to futures contracts with the gold price in the international gold market as the transaction target at a certain time in the future. The profit and loss of investors buying and selling gold futures is measured by the difference between the time of entry and exit, and the gold is delivered in kind after the contract expires.