However, both gold trading modes have a major defect:
1. Both major exchanges adopt the trading mechanism of call auction and matchmaking, which is relatively out of touch with the international gold market;
As a global investment product, gold price has a strong linkage, but the influence of China gold market on the international gold market has not yet formed;
3. The gold investment varieties of Shanghai Gold Exchange and Futures Exchange can't provide 24-hour continuous trading, which often leads to the phenomenon of domestic gold prices gaping and opening higher, and investors can't resist uncertain risks in all directions;
4. The loopholes covered by the transaction can not completely stabilize market speculation, leaving room for underground gold speculation, threatening the interests of investors and disrupting the national financial order.
At present, individual investors can't open their own accounts to speculate in gold on the Shanghai Gold Exchange, which means that investors mainly invest in gold through banks. So how to choose the right investment products in the bank?
For individual investors, there are three main types of gold investment business launched by banks at present: account gold (only investment, not physical withdrawal), personal physical gold trading (but there is no repurchase business at present, so it cannot be sold to banks), and personal physical gold investment (the Gold Exchange authorizes banks to start this business, which can be both investment and physical withdrawal). Sales banks: Agricultural Bank, Industrial and Commercial Bank and China Construction Bank.
At present, the main banks offering physical gold trading are Agricultural Bank, China Construction Bank and Industrial and Commercial Bank of China. The price of physical gold sold by banks is generally higher than the price of raw gold in Shanghai Gold Exchange, because banks should include transportation premium and processing fee in the cost. Next, let's take a look at the physical gold varieties launched by the bank:
● Agricultural Bank
China Agricultural Bank is the first bank in Ningbo market to launch personal physical gold trading. At present, our personal physical gold transactions mainly include the following types:
The gold coins currently sold by China Agricultural Bank mainly include Olympic commemorative coins and panda gold coins. The specifications of Panda Gold Coin are 1 oz, 1/2 oz, 1/4 oz,10 oz and 1/20 oz. According to reports, the price of gold coins "goes with the market", one price per day, based on the raw material gold of Shanghai Gold Exchange.
The gold bars sold by Agricultural Bank of China are products of Zhaoyuan Gold. The specifications of gold bars are 50g, 100g, 200g and 500g. The price of gold bars is also quoted by the Agricultural Bank of China on the basis of the raw material gold price of the Shanghai Gold Exchange, and the bank will add a little transportation fee and processing fee.
"Bank Brand Gold" China Agricultural Bank will promote its own bank brand gold-"Chuanshibao" gold bars with specifications of 20g, 50g, 100g, 200g and 500g in late October this year.
At present, these physical gold products sold by ABC have not provided repurchase business, and buyers are mostly used for collection. Once the bank launches the repurchase business, investors can also "buy low and sell high" to make money.
● ICBC
ICBC also launched its own brand gold-"Ruyi Gold" gold bars. "Jin Ruyi" gold bar is a self-owned brand gold bar first introduced and designed by China Industrial and Commercial Bank. There is a sign of "Industrial and Commercial Bank of China" and a fixed number on the bar. Ruyi gold bar is the first bank gold bar registered in Shanghai Gold Exchange (SGE). International standard gold and silver ingots certified by China Industrial and Commercial Bank London Gold Market Association are produced and cast in inspection-free refineries. Its price is linked to the international gold market price, which is highly transparent and convenient for investment, gift, gold accumulation and value storage.
ICBC's "Jin Ruyi" gold bars come in six specifications: 20g, 50g, 100g, 200g, 500g and 1000mg, with a fineness of 99.99. At present, ICBC does not sell 20g gold bars.
At present, ICBC's "Jin Ruyi" gold bars have not been repurchased, and investors can only buy "Jin Ruyi" gold bars from ICBC at present.
● Construction Bank
"Long Dingjin" is the unified brand name of CCB's personal gold trading business. At present, this brand includes personal account gold trading and personal physical gold trading. At present, China Construction Bank has four categories of "Longdingjin" physical gold products with a purity of 99.99. According to different customers and market demands, different types and specifications are designed for each kind of products: 50g,100g, 200g and 500g.
The reporter learned that the price of "Longdingjin" physical gold is quoted by the bank in real time, in which the price of "Longdingjin" gold bar is the same as that of New Year's gold bar, and the price of Zodiac commemorative gold bar and Golden Pig baby gold bar is different, mainly because the technology of various physical gold is different, so the price is different.
"Long Jinding" personal physical gold trading time is from Monday to Friday 10: 00 to 15: 30. At present, the bank's physical gold trading has not yet carried out repurchase business. Sales banks: Industrial Bank and Shenzhen Development Bank.
Personal physical gold trading is actually an investment product of Shanghai Gold Exchange. At present, there are two banks in China that fully represent personal physical gold transactions, namely Industrial Bank and Shenzhen Development Bank. Different from the personal physical gold trading business launched by banks, investors can make profits by "buying low and selling high", or they can directly extract physical gold and put it at home.
Industrial Bank and Shenzhen Development Bank opened this business. Individual investors can open gold trading accounts through banks to invest in individual physical gold varieties of Shanghai Gold Exchange, and legal person investors can also invest in physical gold varieties and deferred business varieties of Shanghai Gold Exchange through this trading system.
The gold investment varieties introduced to the market by the two agents are Au99.99 and Au 100, and the trading starting point of these two gold investment varieties is 100g. According to the current gold price, investors need about 20 thousand yuan to trade personal physical gold.
Investors who want to invest in personal physical gold trading in Shanghai Gold Exchange need to apply for debit cards or wealth management cards at bank outlets with valid identity documents, and then sign personal physical gold trading agreements with banks. The applicant entrusts the bank to apply for opening a gold trading account in the account card system of Shanghai Gold Exchange, and investors can conduct physical gold trading through online banking and telephone banking. At present, Shanghai Gold Exchange entrusts individuals to trade in physical gold every Monday to Friday (except national holidays). Personal account gold transaction (also known as "paper gold")
Sales banks: China Bank, China Construction Bank and China Industrial and Commercial Bank.
Speaking of account gold trading, some investors may not be familiar with it, but many investors should have heard of "paper gold", which is actually a concept with account gold-different from personal physical gold trading and personal physical gold trading, account gold is actually an investment tool, and it is impossible to extract physical gold. Investors can buy a certain amount of gold and wait for it to rise, so that they can make use of the fluctuation of gold price in the international market to earn investment income.
● Bank of China
China Bank's first personal gold business approved by China Banking Regulatory Commission has been successfully operated in Huang Jinbao (often referred to as "paper gold"). The trading currency of Huang Jinbao is RMB. According to the quotation in the international gold market, there is no need to pay the handling fee. Investors can earn the difference by grasping the market trend, buying low and selling high.
China Bank's "Huang Jinbao" trades 24 hours a day, and the transaction is in grams. The minimum trading volume is 10 gram of gold (equivalent to about 2000 yuan), and the excess trading volume must be whole gram. Investors only need to open a current all-in-one account of China Bank and deposit a certain amount of RMB, and at the same time, open the telephone trading function and register on the bank's website, so they can use the four trading functions of counter, telephone, online and self-service terminal.
"Huang Jinbao" is quoted in international gold and converted into RMB according to the quotations of 1 oz = 3 1. 1035g and USD /CNY. The bank will have two quotations, one is the selling price and the other is the buying price. The selling price of the bank is actually the buying price of the customer, and the buying price of the bank is actually the selling price of the customer.
● ICBC
ICBC's "Gold Expert" personal account gold trading business also provides investors with the choice of speculating in gold. Individual customers conduct firm transactions between US dollars and gold (ounces) and RMB and gold (grams) according to the quotations in the international gold market by virtue of current multi-currency accounts or RMB gold accounts opened in China Industrial and Commercial Bank.
Investors can inquire about quotations and conduct transactions through counters, telephone banking, online banking and other channels. The trading methods also include instant trading, profit entrustment, stop loss entrustment and two-way entrustment, and the longest time for entrusting a pending order can reach 120 hours.
Investors can handle real-time and entrusted transactions of account gold trading through telephone banking, online banking and self-service terminals. The time is from 7: 00 am on Monday to 4: 00 am on Saturday (the specific trading time is subject to the actual regulations of the local ICBC), and it is implemented 24 hours a day.
● Construction Bank
It has been two or three years since the personal account gold transaction of CCB was launched. "Longdingjin" account gold is a financial investment product that investors open a gold account in China Construction Bank and buy and sell.
The trading varieties of gold in "Long Jinding" account are divided into categories such as AU99.95 and AU99.99 according to color. Trading hours are from Monday to Friday 10: 00 to 15: 30. The starting point for investors to buy is 10g, and the trading commission is an integer multiple of1g. The gold quotation unit of "Longdingjin" account is RMB/gram, and the minimum price change unit is RMB 0.0 1 yuan, which is a real-time quotation with little change.
Investors can conduct real-time transactions directly according to the buying and selling quotation of CCB, or entrust pending orders at a specified price. Entrust pending orders are divided into profit pending orders and stop-loss pending orders.
Introduction of five gold investment varieties and their applicable populations in China market.
Commemorative gold coins and New Year's gold bars: physical delivery, collection function, poor liquidity and high transaction cost.
-Suitable for middle-aged and elderly art financiers who are familiar with stamp products market or collectible market.
Gold jewelry: physical delivery, collection function, poor liquidity, high transaction cost, easy to damage.
-Suitable for female investors who love jewelry.
13. transaction of standard gold bars: physical delivery, good liquidity, need to pay for storage, appraisal and other expenses, and high transaction cost.
-Suitable for wealthy families with more spare money.
4. Paper gold business: voucher transaction, full transaction, strong liquidity, low transaction cost, low income and one-way operation.
-Suitable for wealth managers who have no energy to pay attention to investment.
5. Gold spot deferred delivery business: voucher trading, margin trading, high yield and two-way operation.
-Suitable for wealth managers who are keen on continuous trading in the financial market and profit from investment, and investors who are willing to pay close attention to gold frequently.