Gold futures: refers to a futures contract with the gold price of 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, which is the physical delivery after the contract expires.

Gold TD: gold deferred delivery business, referred to as AU(T+D), is a futures trading mode mainly based on margin trading. Traders can choose to deliver or postpone delivery on the contract trading day, and at the same time introduce a deferred compensation mechanism to stabilize the contradiction between supply and demand. This trading mode can provide hedging function for gold producers and users, and also meet the investment needs of investors, with low investment cost and high market liquidity; At the same time, it also provides investors with a short-selling mechanism and trading platform, which is suitable for investment and financial management.

The difference between gold TD and gold futures;

1. Trading channel: au(t+d) was launched by Shanghai Gold Exchange in 2005;

Gold futures was launched by Shanghai Gold Futures Exchange in 2008.

2. Trading time: au(t+d) 10 hour all-day trading time (there are more night trading, that is, night trading time);

Gold futures trading hours are 4 hours a day;

Third, the current account, gold futures can be done in futures companies;

Au(t+d) can only open an account in a bank or a bank partner.

Gold TD is similar to gold futures:

1. margin trading, including small bet and large bet;

Second, both of them can be traded in two directions, and buying up and buying down can also be done;

Third, they are all T+O transactions and can be bought and sold at any time;

Four, these two financial derivatives can be delivered in kind;

5. There are ups and downs. Au(t+d) is 7%, and gold futures is 6%;

Sixth, they are all domestic financial derivatives.