Hold due to strong gold prices, "mutation"

International spot gold prices this week to 833.2 U.S. dollars Open, the highest on the test 927.1 U.S. dollars, the lowest test the 825.5 U.S. dollars, as of midday Friday to close at 916.2 U.S. dollars over the last week of huge trading up 78.9 U.S. dollars, or 9.7 percent, Zhou K Line Show a trend reversal last week of the first to wear long-Line broken foot. Gold, the dollar which runs counter to the enemy in the past, has recently become a devoted ally of Flying, as they currently play a role in common - financial tools to hedge. Therefore, the current drive gold prices have been running the gene mutation, if adopted U.S. dollars, associated with crude oil price is derived the idea of running, it will show more embarrassing void. If you really want to run the short-term gold price associated finding a guide, then you concerned about the Dow Jones index. Gold itself both financial and property of the double commodities, the current gold price trend will no doubt be the leading financial attributes. The merchandise of gold properties in the major industrial uses, such as jewelry consumption in the area. Others of the same clan of silver, palladium, platinum, rhodium, and other precious metals, gold and the difference lies in the strong attributes of goods in the financial attributes. Silver financial attributes to a little better than palladium, platinum, rhodium, and other precious metals, silver price trend is still dominated by commodity attributes. The strong gold prices in the near future will no doubt come from the leading financial risk attributes. Europe and the United States this week, although the major part of Asian central banks and the central bank to cut interest rates a rare emergency line, although beneficial to the financial system to ease liquidity crisis, but the market is more of the financial crisis at the end of a black hole without fear. As of Thursday, the Dow Jones industrial average plunged weeks have been more than 16%, rare in recent decades. Market filled with a strong financial panic, the fear people have to seek financial hedge. And a strong currency and gold as a financial hedge often the first choice. In addition, because of the market from the financial risk that the current level rather than the economic level. Oil industry as the blood, high and low prices are often closely related to inflation and, therefore, if the hedge market sentiment from the economic level of expected inflation, then gold and oil prices will remain high is associated with. If the hedge market sentiment rather than from inflation, but other financial credibility in the area, the trend of gold and oil prices will be irrelevant in the near future so it is. This hedge demand for gold will be how much time? It is very difficult to determine. We know that physical gold bars, gold coins of the hedge demand for gold investment demand is just less. The only gold investment and speculative demand for large-scale radiation to the gold derivatives market, will lead the trend of macro-gold. However, we do not see the exact signal, gold funds in the futures market in the will to do more than light. It is difficult to determine simply by physical demand for gold hedge against inflation will be able to promote a vigorous round of the gold bull market. Capital flows, from the COMEX market on September 23 -30 on the analysis of capital flows, gold in the range of oscillation, the fund is not made in the direction of the addition of any position, but the lack of confidence in the market to reduce positions . In the above-mentioned period, the reduction of funds 15,786 multi-hand gold, gold holdings 12,556 short hand. Therefore, the current gold price, although compared to other precious metals and commodities markets to outshine others, but the period in which much uncertainty still exists, to do any more short or strategic layout seems too early, so the current short-term trading or market more in line Fluctuations in the properties.

Strong hedge funds push up gold fund holdings to see more in a row

Panorama network on October 10 hearing in the financial market turmoil all the more severe cases, the stock markets started the catch up "diving" competition, a large number of hedge funds into gold futures market, gold futures this week made the trend in the number of Commodity futures varieties fall in a row in the trend can be described as a crane standing among chickens. U.S. COMEX gold futures rose this week showed the trend of unilateralism, with the exception of a slight back yesterday, the day before the deal closed three red. Today, electronic contracts set in December in U.S. and global stock markets fell sharply, another strong rise above 930 U.S. dollars. Gold in the domestic long after the performance is Xianyihouyang, during the long holiday Monday by the commodity futures market plummeted in a row, appear Budie, sealed daily limit. But the next day in hedge funds will be driven by the influx of almost daily limit. U.S. stocks fell Wednesday as a result of which up to 3% of the countries due to join Thursday to cut interest rates affect investor psychology, resulting in profit pouring selling, gold prices fell. Today, investors see interest rates for countries to boost the stock market did not play a role, but to accelerate the decline, but also stimulate the capital market of gold (203,5.85,2.97%, it) the urge to make today's trading volume for the first time To zoom into the hands of 170,000 square. Gold opened in 0812 week week low 184.35 yuan and 204.50 yuan see high, closed at 202.72 yuan, up 9.02 yuan or 4.66 percent. 347,904 traded hands, more than double the sudden jump in the last week. Position quickly rose to 36,148 in hand, the last three grow 60 percent, since April 25 to its lowest level since. The world's largest gold ETF SPDR Gold Shares in the last week to cut positions after overweight in four consecutive days this week, Monday holdings of 4.59 tons, 0.68 tons holdings slightly Tuesday, Wednesday to increase holdings, and positions up to 18.68 tons An all-time high of 763.90 tons, the fund Thursday not to cut interest rates by central banks, continue to overweight from 1.84 to 765.74 tons, once again set an all-time high. His four-day cumulative holdings amounted to 25.79 tons. The gold sector optimism to judge, greatly strengthened investor confidence in the stock market in the city of gold. Fundamentals, the German central bank said that in the next 12 months, did not plan to sell gold, Germany for the world's second-largest reserves of gold country. Analysts domestic gold market outlook for large differences to see more people believe that the financial situation of instability, the Dow Jones Crack Die Die crude oil and 9,000 points over the environment, the surge in demand for gold hedging, the United States and gold may break 1000 Dollar mark. The majority of analysts are more cautious attitude, fear that if the market can not be eased, gold is likely to continue upward, but the implication for the gold market risk, investors in gold futures should remain cautious. (View / Lei Chen)

Real estate, savings, securities, investment compared with gold

From the general situation, personal investment mainly in the direction of real estate, savings, securities and precious metals. The way the pros and cons of these investments as follows: Real Estate (Changes in the value of the) small changes in normal circumstances, depending on the investment environment (Mobility / sale of) the general, but the decision depends on the location of high and low prices, and want to wait for the opportunity to sell at high prices, may be eager to sell low-profit and loss (Profit) as the investment environment and changes in the rent may be very poor (Maintenance costs), including property management and maintenance fees, transaction taxes Savings (Changes in the value of) the high and low inflation have a greater impact (Mobility / sell sex) and cash equivalents (Profit) interest, by its high and low inflation, high inflation, nominal interest rates are high, low inflation, the nominal interest rates are low (Maintenance costs) in many countries the introduction of tax savings Portfolio (Changes in the value of the) vulnerable to changes in the number of species, mainly stocks and bonds, the value of political, macroeconomic, monetary policy impact (Mobility / sell-) high (Profit) bonds more stable earnings, the stock volatile profit (Maintenance costs) at the time of sale and purchase of certain transaction costs such as taxes and fees Gold (Changes in the value of the) small changes in the value of the (Mobility / sell-) high (Profit) the sale of gold lower profits, but also low-risk, speculation paper gold (standard contract) is relatively high profits, but risk (Maintenance costs) is the high cost of maintenance payments, and the paper gold, standard contracts, such as maintenance costs low In addition to the above comparison, investors also can be compared in the manner described above will be gold and other investors a comparative analysis, such as silver, antiques, jewelry, the list of categories, from access to some useful inspiration. We can see that gold has a value of stability, the advantages of high liquidity, is an effective means to combat inflation. If the futures market, as well as changes in the price of gold has a basic knowledge of professional and analytical skills, but also to participate in gold futures investment profits. In general, no matter how changes in the price of gold, due to its intrinsic value is higher and has a strong hedge against inflation and liquidity. In the long term, are able to cope with the effects of inflation; real estate in the long term, and it is very practical, if the timing of the purchase price and more reasonable, but also the potential for appreciation; savings and to respond to the immediate needs of a variety of the most convenient; stock profit Risky sexual co-existence. These advantages and investment, according to a variety of purposes, financial and investment knowledge and decision.

Goldman said the sharp rebound in oil prices can not be

March 2005 the first to call for international oil prices entered a "super-period surge," Goldman Sachs analyst Arjun Murti (Arjun Murti), said, as demand will decline, the continuing rise in oil prices is not possible. Arjun Murti and other energy analysts in a research report this week said the global economic outlook as a result of the continued pessimism, oil prices are unlikely to rebound sharply. He maintain oil prices in the fourth quarter of 2008 to an average forecast of 120 U.S. dollars in the same, but admitted that the recent decline in oil prices and the current trend of decline in the global economy than before, making the possibility of a decline. "In the global GDP is expected to bottom, it seems that more and more oil can not be sustained a sharp rebound." Goldman Sachs said in the report, "Although we believe that the fundamentals of supply and demand of crude oil is not as bad as the market sentiment, but we Recognized that global oil demand growth in the number of on-going concern. " Arjun Murti in March 2005 that the first oil into the "super surge", when he expected oil prices in 2009 will reach 105 U.S. dollars / barrel, in May this year, Murthy has forecast oil prices in the future Six months to 2 years to reach 150 U.S. dollars per barrel to 200 dollars. Murthy developed a "super-surge" theory, that the global demand for crude oil continued strong, while supply growth pace as oil prices jumped sharply into the stage. Last month, Murthy and its stock analyst research team reduced its 2008 and 2009 oil price forecast. They will be the 2009 oil price forecast from 140 U.S. dollars / barrel down to 110 U.S. dollars / barrel, the price of crude oil in 2008 from the estimated 119 U.S. dollars / barrel down to 115 U.S. dollars / barrel. For fear that the global economic slowdown will reduce demand for crude oil, the international crude oil prices this year, from July 11 record high of 147.27 U.S. dollars / barrel continued to decline, dropping by 40 percent, forcing many of the international investment bank to lower its prices The forecast. This week, Societe Generale and UBS also lowered its forecast oil prices this year and next year. UBS to the United States next year on lower crude oil prices forecast 15-105 U.S. dollars / barrel, and the Industrial Bank of France will be next year's oil price forecast from the previous 120.42 U.S. dollars / barrel to 114.17 U.S. dollars / barrel, also at the same time this year The forecast from 113.78 U.S. dollars / barrel to 111.21 U.S. dollars / barrel.

The financial crisis in the beginning of the third phase of gold will rise at an alarming rate

The recent weakness, the stock market fell across the board, futures markets fell across the board, the U.S. dollar index rose, with the exception of gold rose against the U.S. dollar, from Sept. 11 low of 737 U.S. dollars a callback / oz bounce back to the author's writing 910 U.S. dollars / Ounce line. These market signals suggesting that the international financial crisis entered its third phase. Since the current round of the largest since the 1929 financial crisis, the development will be in three stages. At every stage of the market mainly as follows: The first stage of the financial derivatives crisis to the real estate sub-mortgage-related securities and derivatives marked by the collapse of many financial institutions affected by heavy losses and even closing down. In the second stage, the crisis in U.S. dollar assets, as a result of the financial derivatives bubble burst severe contraction of the dollar liquidity, with the result that is very short of dollars and lead to a variety of U.S. asset prices decline, the main feature of the stock market crash and economic entities affected , Bulk commodities from cattle to bear. The third stage, the U.S. interpretation of the crisis as mobility of the world liquidity crisis, that is, the evolution of the crisis by the dollar notes for the full credit crisis. The main feature of all countries to cut interest rates to increase liquidity in order to resolve the excess liquidity as a result of the financial crisis, that is, inflation in the rising interest rate cuts, the deeper notes of "negative interest rate" of. The main features of the market is thriving gold, from a variety of commodity goods attributes of the "gravity" of credit from a variety of currencies, "gravity", up on its own ... ... at this stage to the development of the latter part of the price of gold May be surprising rise to the point. And then to enter the gold at the core of the new global monetary and financial systems in the reconstruction phase. If a single gold in perspective, the evolution of the financial crisis brewing there are three stages: first gold of the dollar, "Prisoner", that is, a strong U.S. pressure to gold, gold from the constraints of the U.S. recklessly squandered the financial derivatives innovation and prosperity extremely crazy Gold prices suffered depression; Second, monetary hegemony of gold to act as "referee", that is, the euro began to challenge U.S. dollars, a two-referee need for hegemony, it is only gold, the price of gold began to rise at the same time, the U.S. dollar debt Set off such a crisis is to expand; the third phase, gold, "The Return of the King" stage, the U.S. dollar, the euro will suffer, are not constrained gold, gold has become the last refuge of the financial crisis, gold prices rose at an alarming rate ... ... Personally believe that it is now the financial crisis in depth to the development of the third stage of the year, gold is the third phase of the beginning of the Return of the King. The Return of the King in gold on the way, the head of the notes will attempt to jointly crack down on a gold, gold is likely to be playing a more miserable. However, they will find the gold down, and even at one time did not rule out the possibility of closure of the gold market, and their notes will be more like a broken kite line, the ratio is the relationship between disorder. When they lost the gold in the light of the value of a unified, national currencies will inevitably steal private and India, will be competing for depreciation of the others passed on the crisis, it would be more of the international financial turmoil. At that time, they had no choice but to actively or passively out of gold to clean up the mess, a long-term perspective * Gold raised a call to re-unite the world's commercial and economic value, and then build a new system. That point in time, gold is the "currency sovereign" re-coronation day.

Financial crisis is still worried about pushing up the price to 900 U.S. dollars

Benefited from the stock market fell and the dollar triggered by hedge buying, the dollar Tuesday of the international gold rose more than 3%. Three weeks after the index hit a 1987 stock market crash since the biggest one-day decline, it lost before the U.S. stock market and stronger yen also suppress the export stocks. Routed by the global stock markets and the world's largest gold exchange-traded fund holdings of the impact of the dollar gold price continued to rise Wednesday, rose to near 900 U.S. dollars. Dollar fell Tuesday, the U.S. Federal Reserve calm turbulent financial markets, as well as initiatives to prepare the U.S. Federal Reserve Chairman Ben Bernanke hinted that the rate cut has given rise against the U.S. dollar weakened hedge buying. U.S. Federal Reserve to buy commercial paper to create a tool for investors to make out the Japanese yen, buying some European currencies, as a result of the recent concerns about the global economic system and Europe to deal with the lack of co-operation of the financial crisis, dragging down European currencies dropped. Bernanke at the National Association for Business Economics for his speech, paving the way for further rate cuts were made, clearly pointed out by recent economic data and financial market development shows that the deterioration of the prospects for economic growth; in the last week, the European Central Bank president Jean-Claude Trichet has hinted that will be Started to cut interest rates in the near future. Australian dollar rebounded Tuesday from a four-year low, before the Australian central bank unexpectedly cut interest rates sharply, triggered a global market, hot-join the central bank will cut interest rates. Tuesday the Australian dollar against the U.S. dollar in overseas markets had dropped to a four-year low of 0.6970 U.S. dollars, as a result of the market into panic selling. In recent weeks, as the global slump and credit market freeze, have aggravated the crisis, governments and the central bank to avoid busy with the global economy slowed down significantly. Investors expected the Bank of England will cut interest rates this week, and to digest the Federal Reserve and European Central Bank to cut interest rates in the near future. For the time being, oil prices have entered a downward spiral as a result of the development of the global economy continued pessimism, oil prices rebounded sharply in the near future is unlikely. Despite the oil supply and demand fundamentals are not as bad as the market sentiment, but global oil demand growth in the number of on-going concern, and take into account the current credit crunch on the global economy caused by the negative impact of short-term oil prices will continue to decline. But in the long term, the U.S. financial rescue plan with the effects of inflation, along with the governments policy to rescue the market introduction, I believe oil prices will rise again, I believe that by the end of this year, oil prices will rebound to near 100 U.S. dollars a barrel. From graphics, the gold back to the early 870-910 U.S. dollars of regional turmoil, gold is expected in the near future will continue to fluctuate within this range, and continue to test resistance of 900 U.S. dollars. Investors should pay close attention to the governments and the central bank's rescue package in order to determine whether the gold stand fully 900 U.S. dollars, such as closing today at the top of the 900 U.S. dollars, will venture to buy.

Shanghai set to make a profit down payment or limited period

Gold continued to be sought after, as a result of the global financial market system, deepen the emotional concerns. Shanghai by outer gold plate Tiaokonggaokai continue to impact on the 8th, down by speculators take profits, greater pressure on the top of the gold. U.S. Federal Reserve (Fed) Chairman Ben Bernanke sent the signal: in price pressures subside under the circumstances or the Federal Reserve will cut interest rates, the dollar is expected to cut interest rates low, low interest rates imply that gold rose to become an important basis; the Federal Reserve to stabilize financial markets And the other to take emergency measures: to start buying commercial paper, the Fed is to address the financial system's liquidity crisis and make a positive action by the strength of the U.S. dollar gold price rising influence of the limited space available; At the same time, a lot of money in the near future due to the influx of the gold market, The gold speculators make up a substantial profit, the cash payment on the 8th Asian city declined in early trading concussion. Shanghai 0812 gold contract on the 8th to Tiaokonggaokai, opened at 194.08 yuan / g, down shock then, in some of the selling pressure under the main contract to the lowest test the 193.70 yuan / kg. Since the Shanghai Gold rose by 8 restrictions eased up after the release of some of the risk was expected to drop slightly on the 8th will be based. As of 10:05 GMT, spot gold closed at 880.70 U.S. dollars, representing close (7) fell 0.62 percent; Shanghai, the main gold contract at 193.84 yuan / kg over the previous (7 ) Rose 1.69 percent.

Analysis of the impact of fluctuations in the gold price factor

1, due to political factors, gold has a function to avoid the risk that if the tense political situation, war, the gold will play a role in this feature, investors buy gold, the gold price will go up. If August 19, 1991 collapse of the Soviet Union, gold prices in less than an hour 10 U.S. dollars (an ounce to as a unit); if political stability and gold immediately reinstated. If the 1992 Gulf War, gold prices stood at 400 U.S. dollars, but the post-war situation under control, gold down on the weak. But if a regional war, the effects may not be able to boost gold prices have soared. 2, economic factors and poor economic good, can affect the rise and fall of gold. The overheated economy, inflationary concerns, as have the gold hedge inflation risk function; if inflation will be investment options to buy gold. However, the measure of the inflation indicator to a large extent dependent on oil prices. As a result, the rise in oil prices will boost gold's rise. On the contrary, stable oil prices, gold prices will stabilize. However, if the economy improves, interest rates rise, such as the U.S. interest rate hike, investors will take home the gold and dollars, gold will be under pressure. Recent market rate against the U.S. population is expected to tune is a case in point. 3, the central bank's activities, the central bank gold is held by the big, they have a direct impact on the will of the gold price trend. If absorbed by the central bank holdings of gold or, gold will go up; On the other hand, if the central bank to sell gold, then gold will go soft. As at the end of the century, 90 the central bank continued selling of gold and gold continued to make softened, once dropped to 265 U.S. dollars an ounce historical low. 4, consumption depends on factors of the economic factors of good and bad. When the economy is good, the people of the increased income, consumer sentiment strengthened, gold and silver ornaments as consumers become targets of the growth in demand to stimulate the rise in gold prices. On the other hand, if the economic downturn and consumers less willing to buy, the decline in the demand for gold by the impact of softening. 5, science, technology and industry as a result of another gold used for a wide range of modern high-tech industries, such as electronics, communications technology, aerospace technology, chemical technology, medical technology, the industry's annual demand of about 60 tons, about 17% of consumption, so the more industrial development, the greater the demand for gold, gold will rise. On the other hand, if the more science and technology development, the gold mining costs corresponding drop in gold prices will be soft. 6, investment demand for gold due to the inherent value of the investment, so when all these factors favorable to the gold, investors will follow the stock market, gold demand-driven factors caused the price of gold popular. 7, the world's gold supply and demand of gold supply comes from three main areas: gold mining, the central bank to sell reserves, as well as old gold recovery. Gold continued growth in demand, the growth rate of supply can not keep up with the pace of demand growth, particularly in the South African gold production fell. This means that the central bank needs to sell gold to cover the gap between supply and demand, but by the central banks signed an agreement restricting their sale to a limited number of gold. If the market continued to worry about prospects for the U.S. dollar, gold demand will rise.

The relationship between the dollar and gold

With the dollar gold price in the end there is what kind of relationship? We first take a look at the figure below. One gold to red lines that, while the dollar (U.S. dollar index Lines, said that while the blue light to the naked eye observation, it is clear that we will be able to these two commodities in the early 2004's by the end of September to show a reverse trend in the relationship between the . Through this package to the naked eye to observe the relationship between the dollar and gold, we have to tighten the rates of change to observe whether these two commodities have negative correlation. The chart is the gold index and the U.S. dollar since 2003 until the end of the third quarter of 2004, average monthly rates of change in the relationship map. Golden column on behalf of the average price of gold on the rates of change in the blue column for dollar index Source: Purcell gold and silver on the high rates of change in the average month. From this we can see that two Tu commodity rate of change in the situation is indeed a relationship between the reverse. Interpretation by the membership of the above we can see the obvious, gold and dollar really has a negative correlation phenomenon, that is to say, with gold for the U.S. hedge. Typically, investors in savings capital preservation, will take home the gold dollars, U.S. dollars will take home the gold. Gold itself is not legal tender, but still has its value, will not be devalued into scrap metal. If the strong dollar, U.S. dollar investment opportunity, people will chase dollars. On the other hand, when the dollar on the foreign exchange market to weaken, the price of gold will be strong.

A leading international gold market

Comparing the world's leading gold market influence concentrated in London, Zurich, New York and Hong Kong. London gold market The world's largest gold market. 1804, London, Amsterdam, the Netherlands to replace the world's gold trading center. 1919-London market was formally established in the morning and afternoon every day for two gold price. Goldsmith set by the top five on the day the market price of gold, the price has affected trading in New York and Hong Kong. The gold market is the main supplier of South Africa. In 1982 before the London gold market mainly engaged in spot trading of gold, in April 1982, the London gold futures market opened. Zurich gold market After World War II development of the international gold market. Switzerland due to the special nature of the banking system and support the gold trade service system for the sale of gold provides a free and confidential environment, together with Switzerland and South Africa also has preferential agreements, received 80 percent of South African gold, as well as the former Soviet Union gold Have gathered here, making Switzerland is not only the world's largest gold to add a transit point for the world's largest private gold storage center. Zurich gold market in the international gold market position second only to London. U.S. gold market New York, Chicago and the gold market is the mid-1970s developed, mainly because in 1977 after the devaluation of the dollar, Americans (mainly corporate-oriented) for hedging and investment in value-added profits, making gold futures rapidly Developed. At present, the New York Mercantile Exchange and Chicago Mercantile Exchange is the world's largest gold futures trading centers. Exchange of two gold spot market price impact. Hong Kong gold market Hong Kong gold market has been 90 years. Its form is based on the Gold and Silver Exchange of Hong Kong to mark the establishment. In 1974, the Hong Kong government abolished import and export controls on gold, since the Hong Kong Monetary fast development of the city. Hong Kong gold market just to cover the difference in New York, Chicago and London markets closed before the opening of the gap can be coherent in Asia, Europe, the United States, to form a complete world gold market. Its superior geographical conditions in Europe caused by Kim's attention, the London five gold, three major Swiss banks have set up branch offices in Hong Kong. They will be in London for settlement of the gold trading activities in Hong Kong to gradually form a local invisible, "London gold market," Hong Kong will become the world's major gold markets in the world.

What paper gold transactions?

The paper gold is generally issued by the gold market, financial strength, credit a good level of commercial banks, gold or large-scale gold issued by retailers, such as commercial banks issued gold deposit certificates of deposit, bills of exchange of gold and gold passbook accounts, the Shanghai Gold The bills of lading issued by the Stock Exchange of gold or gold warehouse receipts, gold gold bonds issued by enterprises, and so on. As the paper gold trading when buyers and sellers after the closing liquidation settlement of the subject matter is a gold certificate of ownership rather than physical gold, the paper gold in Shanghai Gold Exchange with a market transaction, or trading in the secondary market . General paper gold, as the issuer and determine the type of market in the transaction. That is, if the paper gold trading is issued by commercial banks to issue, on the counter in the commercial banks on the sale of the transaction by gold certificates issued by the bank transfer settlement procedures; if the issue is issued by the Exchange should be in the Exchange Traded Stock Exchange Exchanges and Clearing Department for transfer of ownership settlement procedures. In the way of paper gold trading, gold speculators each bank through the sale of gold transactions, the designated funds account for the money transfer and payment at the same time in the opening of the gold on the books for the transfer of gold to access records without the need for gold Extraction and in-kind settlement. Paper gold trading after closing the way to simplify the delivery of the liquidation process, saving transaction costs, reducing transaction costs. In order to simplify trading procedures to facilitate the operations of commercial banks in various business outlets to promote, the bank provided for paper gold investment does not directly receive cash or in kind for gold extraction delivery, to that end, the customer account of gold on gold sales can only make people buy A transaction, not in kind for gold extraction or storage. In the paper gold trading transactions, as banks and individual investors does not occur between the extraction of gold and the settlement of clearing the second delivery, and thus a reduction in the fineness of gold transactions entered into, the weight of testing procedures, and so on, to simplify the gold Physical delivery of the process, thereby speeding up the transfer speed of the gold trade. At the same time, customer account passbook gold deposit payment transactions can be sold, can also be used as collateral or margin to the bank to apply for the loan of gold, so the introduction of paper gold trading will be on the trading of individual investors to participate in a great Convenience. The price of paper gold trading marked into bid and offer price, bid and offer price is the price difference between paper gold trading point of difference. The purchase price for the bank to its customers used to buy gold price, selling price of gold sold by banks on their clients used the price. Wong Kam-po is not due to the sale of gold for delivery, save the gold transport, storage, testing, to identify some of the steps, and so on, so the additional cost of trading is better than less, that is, the purchase price and the difference between the selling price should be small Gold is trading at the post. At present, domestic commercial banks to start operating the paper gold transactions that U.S. commercial banks in Shanghai Gold Exchange Traded Stock Exchange benchmark price, tax, transport insurance, custody and so on-site storage of the second transaction, as well as the cost of clearing bank fees are Purchase price and the difference between the selling price reflected the bank no longer be charged to investors in other transaction costs, while banks do not pay depositors to keep interest payments.

What is a paper gold?

Paper gold-gold account is personal, it's similar to offer foreign exchange business, that is, in accordance with the international gold market to carry out the volatility of the offer, customers can grasp the market to buy high-low throw, making the difference. Title gold paper gold can document that refers to all the gold held by only a property certificate, rather than physical gold, gold with all of this certificate may at any time extraction of gold at the disposal or in kind, the gold certificate on the property that was That the paper gold. To determine the date of delivery is the gold futures contracts, or at any time of delivery can be sure of the date of delivery is the gold spot contracts, such as gold, and so on a single warehouse. In addition to paper gold of the common types of savings deposits of gold, gold settlement orders, bills of exchange of gold, gold, which are denominated negotiable certificates of deposit, but also include gold bonds, gold passbook accounts, gold warehouse alone, bills of lading of gold, gold spot trading day The settlement has not a single transaction, and the International Monetary Fund special drawing rights, and so on. Are areas of paper gold. Paper gold transactions have the following characteristics: 1. In the gold market on the use of paper gold trading in the gold trade can save essential custodial fees, storage fees, insurance, appraisal fees and transportation fees, expenses and lower gold price in additional costs and increase gold in Market competitiveness. 2. Paper gold transactions to speed up the flow of gold, the gold market to increase the speed of transactions