Investing in gold must be vigilant against eight deceptive behaviors

Hou Huimin, vice president of the China Gold Association, recently stated that while the domestic gold investment boom is surging, illegal transactions in the gold market are becoming more frequent. Domestic gold investors should pay attention to identification during transactions to avoid being deceived.　　 Hou Huimin said that the current vice chairman of the China Gold Association in the gold market, Hou Huimin, said recently that while the domestic gold investment boom is surging, illegal transactions in the gold market are becoming more frequent. Domestic gold investors should pay attention to identification during transactions to avoid being deceived. According to Hou Huimin, the current illegal transactions in the gold market mainly include the following eight types: privately establishing a market maker system in the name of foreign gold transactions; falsely claiming foreign transactions are in fact domestic fake software traders; manipulating the board and hedging The mechanism has become a gambling mechanism; claiming to operate a foreign gold market, in fact conducting'fake overseas transactions'; arbitrating investors’ funds under the guise of the London gold transaction; diluting risks and not even mentioning risks, only talking about profit; using'electronics' Illegal online fund-raising in the name of'Golden'; using shoddy goods and fakes as genuine, engaging in spot gold fraud. It is understood that due to the continued increase in the price of gold this year, and the blind enthusiasm of domestic investors triggered by the initial listing of my country’s gold futures on the Shanghai Futures Exchange on January 9th, thousands of gold investment companies have emerged in China at a time, none of which Companies with financial business qualifications account for a considerable proportion. In this regard, Hou Huimin said that at present, only the Shanghai Futures Exchange and its member units have the qualifications to engage in gold investment transactions in China. Previous: Five Elements of Gold Investment Next: Major International Gold Markets