1. Different forms of investment: Paper gold refers to gold trading vouchers purchased through the securities market, which have monetary properties and can be traded in the securities market. Investors can buy and sell paper gold through securities accounts. Gold fund is a fund investment method, which can be purchased through securities companies or banks. It is a fund product focusing on investing in the gold market. Investors can participate in the investment in the gold market by purchasing fund shares.

2. The investment threshold is different: the investment threshold of paper gold is low, and you only need to open a securities account to invest, while the purchase of gold funds needs to meet certain initial purchase amount and share requirements.