Precious metals investment is divided into physical investment and electronic transaction investment.
Among them, physical investment refers to the process that investors earn the difference by buying low and selling high when they are optimistic about the precious metal market. It can also be a means to avoid risks when the economic outlook is not optimistic, and realize the preservation and appreciation of assets.
Electronic trading refers to the decision to buy or sell precious metals such as gold and silver according to market price fluctuations. This kind of transaction generally has leverage, which can make a big return at a small cost.
With the aggravation of the threat of inflation, the turmoil of the global economic situation and the outbreak of the world financial crisis, the demand of precious metals investment, which has the function of hedging, has shown an explosive growth trend. Precious metals, because of their high liquidity and value preservation, can resist currency changes and price increases caused by inflation.
Physical gold
Physical gold trading includes transactions such as gold bars, gold coins and gold ornaments, with holding gold as an investment. There are two kinds of gold coins, namely pure gold coins and commemorative gold coins. The value of pure gold coins is basically the same as the gold content, and the price fluctuates with the international gold price, which has the functions of beauty, appreciation, strong liquidity and preservation. The more gold coins there are, the more memorable they are, and the more difficult it is for ordinary investors to identify their value. Therefore, investors are of high quality, mainly satisfying the collection of coin collectors, and the investment value-added function is not great.
Physical gold trading is mainly aimed at gold derivatives, mainly refers to the physical sale of gold. The main forms of physical gold are gold bars, gold coins and gold ornaments. Market participants mainly include gold producers, refiners, investors and other demanders.
Physical gold investment has two disadvantages: first, it must pay for storage and security, and there is no interest income from holding gold.
trait
1. Trading in physical stores or issuers with physical gold trading qualifications is characterized by global circulation, recognition and non-renewable.
2. It mainly reflects the preservation and appreciation of precious metals and the anti-inflation function, and the circulation exchange function is basically degraded.
trading place
Gold shops, jewelry stores and central banks around the world.
Profit calculation
Profit paid: (opening price-closing price) * contract lots * contract turnover.
Selling profit: (closing price-opening price) * contract lots * contract turnover.
For example:
If the current gold price is 375 yuan/gram, investors will make a profit with 1 hand and close their positions when the gold price rises to 385 yuan/gram.
(385-375) *1000 *1=10000 yuan (including handling fee)
gold deposit
The types of margin trading are AU(T+5) and AU(T+D).
AU(T+5) transaction refers to the installment payment with a fixed settlement period of 5 working days (including the trading day). The buyer and the seller have established a sales contract with a certain proportion of deposit (65438+ 0.5% of the total contract amount), and the contract cannot be transferred, only new positions can be opened. The net position of an expired contract, that is, the position after the price difference of a trading contract with the same delivery period, must be delivered in kind. If one of the buyers and sellers breaches the contract, the other party must pay a penalty of 7% of the total contract amount. If both parties breach the contract, both parties must pay 7% penalty to the Gold Exchange.
AU(T+D) transaction refers to the immediate deferred settlement business through margin. The buyer and the seller establish a sales contract with a certain percentage of deposit (65,438+00% of the total contract amount). Different from AU(T+5) transaction, the contract does not need physical settlement, and buyers and sellers can buy and sell the contract held through liquidation according to market changes. During the holding period, there will be a delay fee of two ten thousandths of the total contract amount every day (the payment direction depends on the situation of the delivery declaration on the same day, for example, if the customer holds a purchase contract and the delivery declaration on the same day is that the received quantity is more than the delivered quantity, then the customer will get a delay fee, and vice versa). If the position is held for more than 20 days, the exchange will charge an overdue fee of 0. 1 ‰ for each trading day (paid first). If the buyer and the seller choose the grain delivery method to close their positions, the contract will be converted into a full transaction method. After the successful delivery declaration, if one of the buyers and sellers breaches the contract, the same as above.
profit model
Generally speaking, spot trading mainly realizes profit by buying more and selling short, that is, if it is predicted that the future trend will rise, then buy more and sell more orders, if it is predicted that it will fall, then sell short orders. As long as the future trend is consistent with the forecast direction, it can be profitable. The shortest process is only a few minutes, and everything depends on how to operate. Of course, if you don't want to spend your energy on research in order to save labor, you can also find some professional platforms to place orders with them. This capital market trading model is more direct and faster than the traditional stock trading, and the profit space can be quickly enlarged through leverage. If the operation is stable, at least 20% of the principal can be realized every month. 90% of the transactions in the international top secondary market adopt spot trading mode, which can be used for reference.
paper gold
Paper gold trading is a service provided by banks, and it is an account with precious metals as the unit. It does not buy and sell in kind, but invests in gold by bookkeeping, so it does not involve the delivery of physical gold and the transaction cost is lower.
Gold futures
The buying and selling of gold futures is to sell and buy back contracts with the same number as the previous contracts before the contract expiration date, that is, to close positions without actually delivering real gold. The profit or loss of each transaction is equal to the difference between two contracts in opposite directions.
Gold futures contracts only need a margin of about 10% of the transaction amount as the investment cost, which is highly leveraged, so gold futures trading is also called "margin trading".
The trading contents in the gold futures market are basically similar, mainly including margin, contract unit, delivery month, minimum fluctuation limit, futures delivery, commission, daily trading volume and commission order.
Spot trading platform
Spot trading is a leveraged investment method that conducts two-way trading through the Internet according to the real-time market of the international gold market. It means that investors can buy gold to go up or down, so that no matter how the price of gold moves, investors always have a chance to make a profit.
There are several precious metal exchanges in China, and the qualified ones are generally approved by provincial or sub-provincial local governments. Among them, there are many differences in system and mechanism in the form of filing in the State Council, which can be chosen by investors.
Generally, dealers set up or recruit member units and agents to serve investors.
time
Except for international legal holidays and the international market is closed, it is from 8: 00 a.m. on Monday to 4: 00 a.m. on Saturday, in which 4: 00 a.m. to 6: 00 a.m. on the trading day is generally the closing time for settlement, and the specific closing time for opening from 4: 00 a.m. to 5: 00 a.m. is subject to the notice of the exchange.
way
1. Investors can conduct spot full transactions and spot deferred settlement transactions with comprehensive members by telephone or online, and can do more or short, and implement the T+0 trading system.
2. For spot full transaction, RMB equivalent to the purchased gold bars must be deposited in the account. The purchased gold bars can be picked up or sold again, and the picked gold bars can be sold at the comprehensive member counter.
3. The spot deferred delivery transaction refers to the transaction of buying and selling gold bars at the spot price and delaying the physical delivery to any working day after the second working day. Pay a certain percentage of deposit during the transaction. If physical delivery is required, the remaining amount needs to be settled. The minimum transaction volume is an integer multiple of 1kg, and most platforms mainly rely on contracts around 15kg.
4. Both spot full transaction and spot deferred transaction can provide delivery information to comprehensive members, and extract or deliver physical gold bars. At the same time, it is necessary to pay delivery fee and delivery fee (for example, a trading platform is RMB per gram 14 and RMB per gram in 6 yuan), and the cost of physical delivery is much higher than that of spot deferred delivery transactions.
5. The trading system is mostly a market maker system, which is a kind of securities trading system different from the bidding and matching trading method, and is generally adopted by the OTC market. Market-maker means that in the securities market, a securities business legal person with certain strength and credibility acts as a franchise dealer, constantly quotes the buying and selling price of a certain kind of securities to public investors, and accepts the buying and selling requirements of public investors at this price, and trades securities with investors with their own funds and securities. Market makers maintain market liquidity and meet the investment needs of public investors through this continuous trading. Market makers compensate the cost of providing services through appropriate bid-ask spreads and realize certain profits.
6. Transaction costs. In the process of participating in the transaction, investors need to pay handling fees, warehouse rents, delivery fees and so on. Among them, the handling fee shall not exceed 7/10000 of the transaction amount, of which 3/10000 shall be charged by the exchange and the rest by the comprehensive members. The standard of warehouse rent income and expenditure shall be determined by the price supervision and management Committee of the exchange according to the actual situation. The delivery fee includes processing fee and transportation fee, and the charging standard is RMB per gram 14. The delivery fee includes inspection fee and recasting fee, and the charging standard is RMB per gram of 6 yuan. Delivery fee and delivery fee shall be collected by the comprehensive teller.
Transaction characteristics
1. security deposit: in China, most of them are based on a certain proportion (there are many choices for domestic formal platforms, ranging from 2% to 12%, generally divided by platform). When the basic margin falls below 50%, the electronic trading platform will have the information that the margin has fallen. At this time, investors should take appropriate measures to ensure the normal operation of the account.
2. The platform collects the spread fee. The price difference is the difference between buying and selling. When gold merchants and banks after trading platform providers quote gold prices, the selling price will be low and the buying price will be high. The price difference in the middle is their profit. The spread of domestic trading platforms is quite different, so investors should pay attention to their choices.
3. Contract unit: International precious metals are generally measured in ounces, and grams or kilograms are also used in China. The mainstream contract is 500 ounces (about 15.5 kg), and the trading unit is a multiple of it when placing an order. According to different trading platforms, there will be maximum and minimum trading volume restrictions.
1 oz ≈ 31.1035g
Investors should pay attention to the conversion of units when choosing platforms.
4. Trading time: 24-hour seamless trading in the three major international spot gold markets of Europe, America and Hong Kong.
5. Fund custody: Domestic formal platforms generally adopt the tripartite custody mode to ensure the safety of funds, and the deposits and withdrawals are controlled by themselves. Investors who take the form of transfer need to pay attention to the reliability of the platform and whether the safety of funds is guaranteed.
6. Settlement methods: generally, there are daily debt-free settlement methods and non-daily debt-free settlement methods;
If there is no debt settlement on a daily basis, after the end of the day's trading, the dealer will settle all the contract profits and losses, trading deposits, handling fees, taxes and other expenses for the settlement members according to the settlement price on that day, transfer the net accounts receivable and payable at one time, and increase or decrease the settlement reserve accordingly. Daily debt-free settlement is beneficial to traders' margin management and increase trading income.
For non-daily debt-free settlement, the handling fee and deposit are calculated only when the order is placed, and all expenses, gains and losses are calculated at one time when the position is closed, and the net amount is transferred, and the settlement reserve is increased or decreased accordingly. Non-daily debt-free settlement is beneficial to investors' fund management and control of transaction costs.
Trading software
The mainstream trading platform types include GTS and MT4, and MT5 is an upgraded version of MT4. The mainstream trading platforms in Europe and America are GTS and MT4. The international spot gold trading market is concentrated in Europe, America and Asia.
Transaction learning
Beginners can learn a few suggestions:
Basic knowledge is necessary,
I suggest reading Introduction to Gold Speculation and Foreign Exchange Speculation, Japanese Candle Graph Curve, Super Short-term Master and Foreign Exchange Speculation A-Z, and you can also collect some information online. Free e-books of this book and other foreign exchange technologies are available in the free e-book download of Global Gold Exchange.
2. Choose a qualified mainstream platform, not an underground platform, and pay attention to whether the funds are guaranteed by custody.
3. Choose a good agent, preferably a first-class agent. At the formal level, word-of-mouth is slowly precipitating, so the operation is very formal. Without commission and other handling fees, timely service and professional quality will also ensure the safety of your funds.
4. It is very important to set stop loss and control positions when trading.
It is normal to keep a good attitude and gain something. (Note: You need to know some basic knowledge yourself. )
If you are a novice, you can register a simulation for free, and each platform will generally provide a simulation demo. Look at how the simulation is blown up, and you will understand it slowly.
Non-agricultural data
First of all, we need to understand what non-agricultural means. As the name implies, non-agriculture refers to the value of non-agricultural employment population, and as the world's largest economic power, we usually refer to the non-agricultural value of the United States. As a non-agricultural employment population, non-agricultural employment includes employment population other than manufacturing industry and service industry, which also reflects the current economic development level of the country, because manufacturing industry and service industry are the secondary industry and the tertiary industry respectively, and their employment population directly reflects the consumption level of the country. If its value becomes smaller, it means that the productivity of enterprises in this country has decreased, the economy has entered a depression, the consumption level of the people has decreased, and the market has fallen into a highly sensitive period. On the contrary, the increase in value shows that the social economy is good, the productivity of enterprises is high, the consumption power of the people is enhanced, and the market is highly active. But what effect does it have on precious metals? Take this month's non-agricultural data (20 13.5.3) as an example. Before the data was released, the market began to warm up expectations. After the data was released, the actual data was much larger than the predicted value, and the price of gold and silver began to accelerate. But then it began to return to the normal trend. Therefore, we should also know that the impact of such economic data on the trend of gold and silver, especially spot silver, has a certain time limit. Therefore, investors should be prepared before their own data is released, so as to make a leisurely profit.
Influence of Non-agricultural Data on Precious Metals
Anyone who has worked in the precious metals market knows that the impact of non-agriculture on the price trend of precious metals, especially spot silver, is enormous, and the price often fluctuates greatly before and after the data is released. In order to make investors better profit from non-agriculture, we will deeply analyze the impact of non-agricultural data on precious metals.
American non-agricultural data and its unemployment rate data are released together, and the two data complement each other, which can often achieve twice the result with half the effort. The above three aspects show that American non-agricultural data are closely related to the country's consumer market and economic development. Therefore, the increase in non-agricultural data shows that the US economy is improving, which is good for the US dollar and bad for gold and silver; On the other hand, if its value is reduced, it shows that the US economy is in a downturn, which is naturally bad for the US dollar and good for gold and silver.
However, we can often see that non-agricultural data has three values: the previous value, the predicted value and the actual published value. The previous value is the actual value published last month and is a basis for this data. On this basis, the forecast value is the market's forecast of the economic development of the United States according to the economic data of the past month, and it is also a numerical forecast of the subsequent non-agricultural data. The forecast value represents the market expectation. Therefore, in order to judge the market reaction through the actual published value, it is necessary to compare the difference between the actual published value and the predicted value to further judge the price trend of gold and silver. Simply put, when the actual published value is greater than the predicted value, gold and silver are bad; When the actual published value is less than the predicted value, gold and silver are bullish.