The platform provider of London gold trading (Hong Kong) in the peripheral market cooperates with China UnionPay to charge an unlimited handling fee of 3%, which can prove that it is not illegal.
Loco London gold (international spot gold) is a global investment product. Before 20 10, there were no spot investment products in China. 20 10 countries opened their financial markets, and introduced the spot gold and silver in the inner market-Tiantongjin and Tiantongyun, referring to the model of London gold market. However, due to the relatively late opening of the domestic financial market, it is still in the development stage, and there are not many relevant legal systems to restrict and supervise it.
London gold is a trading product provided by the London International Financial Futures Exchange. It is a 400-ounce gold brick with 99.5% purity stored in the underground vault of the City of London. London gold trading is the name of a gold trading method, also known as spot gold, which is named after its origin in London. London gold market is not a real trading place, but an invisible market connected by the sales networks of major gold merchants.
Interpretation of London gold:
London gold exchange is usually called European gold exchange, represented by London gold exchange and Zurich gold market. The historical record of investors' trading affairs is reflected in the "gold passbook account" opened by customers in advance, and there is no need to withdraw physical gold. Its trading method saves the steps of gold transportation, storage, inspection and appraisal, and the difference between the purchase price and the sale price is smaller than that of real gold.
There is no fixed place for this kind of gold trading. In the London gold market, the whole market is composed of the interconnection of major gold merchants and their subsidiaries, and the transactions between gold merchants and customers are conducted by telephone and fax. In Zurich gold market, the three major banks buy and sell for customers and are responsible for settlement.