A fund refers to a certain amount of funds set up for a certain purpose. It mainly includes trust and investment funds, provident funds, insurance funds, retirement funds and funds of various foundations. People usually refer to funds mainly as securities investment funds. Gold can not only invest in securities, but also in enterprises and projects. By issuing fund shares, fund management companies concentrate investors' funds, which are managed by fund custodians and managed and used by fund managers, and invest in financial instruments such as stocks and bonds, and then * * * bear investment risks and share profits.

Spot crude oil refers to crude oil that is temporarily traded outside the long-term oil sales contract. Specifically, it refers to:

(1) Crude oil sold by oil-producing countries to oil purchasers other than long-term oil purchase contracts;

(2) The crude oil from the oil inventories of major international oil companies returns to the market. Usually, spot crude oil is mainly the second kind of crude oil, which is speculative, and the trend of this crude oil also reflects the changes in supply and demand of major oil consuming countries to some extent.

The trading volume of spot crude oil is about 10% of the trading volume between oil-producing countries and oil companies under long-term oil purchase contracts. Because the number of these transactions is small, it is easier to reflect the relationship between supply and demand of world crude oil.

At the same time, compared with spot silver and other varieties, spot crude oil has many advantages such as larger trading volume, larger market and greater prospects.