First of all, the essence of the two is different:

1, the essence of spot gold: spot gold (also known as international spot gold and London gold) is a spot transaction, which means delivery within a few days after the transaction is completed. Spot gold is an international investment product, which is an investment and financial management project formed by gold companies establishing trading platforms and conducting online transactions with market traders in the form of leverage ratio.

2. The essence of futures gold: gold futures is also called "gold futures contract". Futures contracts with gold as the trading object. Like general futures contracts, gold futures contracts also include trading unit, quality grade, term, final maturity date, quotation method, delivery method, minimum price change range, daily price change limit and so on.

According to the different units of measurement, gold futures contracts can generally be divided into two specifications. Take the Chicago Grain Exchange as an example. One is gold futures with a weight of 1 1,000g and a purity of 99. 5%, and the other is gold futures with a weight of 65,438+0,000 Moz and a purity of 99. 5%.

Second, their advantages are different:

1, advantages of spot gold: using leverage principle-low investment, high return and high capital utilization rate; Two-way trading-long short selling mechanism, flexible investment; T+0 trading-you can buy and sell on the same day, and the short-term opportunities are great; Online trading-buying and selling at any time, convenient and safe to operate; No price limit-large arbitrage space; 24-hour trading-suitable for office workers to invest in financial management; Global market-no dealers, active trading.

2. Advantages of futures gold: two-way trading, you can buy up or down; T+0 system is implemented, and you can buy and sell at any time during trading hours; To be small and broad, you can buy and sell all the gold with very little money; The price is open and fair, linked to the international market 24 hours a day, and it is not easy to be manipulated.

The market is centralized and fair, and the futures trading prices of a region, a country and major financial and trade centers and regions in the world are basically the same under the open conditions; Hedging, that is, buying and selling futures contracts with the same quantity and price to offset the losses caused by the fluctuation of gold price, is also called "hedging".

Third, the trading mechanism of the two is different:

1. Trading mechanism of spot gold: market maker or matchmaking trading mechanism.

2. Trading mechanism of futures gold: long and short two-way trading mechanism.

Baidu encyclopedia-spot gold

Baidu encyclopedia-gold futures