Major international gold market

1. London gold market One of the characteristics of the London gold market is that the trading system is relatively special, because there is no actual trading place in London, and its transactions are completed through intangible means-the sales network of major gold merchants. The second characteristic of London gold market transactions 1. The London gold market One of the characteristics of the London gold market is that the trading system is relatively special, because there is no actual trading place in London, and the transaction is completed through the sales network of the major gold merchants intangible ways . The second characteristic of London gold market trading is flexibility. Gold's purity, weight, etc. can be selected. If the customer requests to be sold in a distant area, the gold merchants will also quote the freight and insurance premiums, and they can also quote the futures price according to the customer's requirements. The standard gold fineness of the London gold market is 99.5% and the weight is 400 ounces. The special trading system of the London gold market also has several shortcomings. First of all, since the prices quoted by various gold merchants are real prices, sometimes the market price of gold is chaotic, and even gold merchants do not know which price of gold is reasonable, so they have to stop the quotation, and the trading of London gold will stop; second, Clients in the London market are absolutely confidential, so there is a lack of effective statistics on gold trading positions. 2. Zurich Gold Market The Zurich Gold Market does not have a formal organizational structure. Instead, three major Swiss banks: UBS, Credit Suisse and UBS are responsible for clearing and settlement. The three major banks not only conduct transactions on behalf of customers, but also gold transactions. The main business of the bank itself. The position of the Zurich gold market in the international gold market is second only to London. There is no gold price fixing system in the Zurich gold market. At any specific time on each trading day, the trading gold price of the day is negotiated according to the supply and demand situation. This price is the official price of Zurich gold. The price of gold fluctuates on this basis throughout the day without a daily limit. Standard gold is 400 ounces of 99.5% pure gold. 3. U.S. Gold Market At present, the New York Mercantile Exchange (comex) and Chicago Mercantile Exchange (imm) are not only the centers of U.S. gold futures trading, but also the world's largest gold futures trading centers. The two major exchanges have a great influence on the price of gold in the gold spot market. The New York Mercantile Exchange has extremely detailed and complex descriptions of the weight, fineness, shape, upper and lower limits of price fluctuations, trading dates, and trading hours of gold for spot and futures transactions. Moreover, because the U.S. Department of the Treasury and the International Monetary Fund (imf) are also auctioning gold in New York, the New York gold market has become the world’s largest and most active gold futures market. The U.S. gold market is dominated by gold futures trading. The signed futures contract can be as long as 23 months. Each transaction in the gold market has a volume of 100 ounces. The transaction target is 99.5% of pure gold, and the price is in U.S. dollars. 4. The Hong Kong gold market is dominated by Chinese capital merchants. There are fixed trading venues. Gold is priced in Hong Kong dollars / taels. The delivery standard gold fineness is 99%. The main gold specifications for trading are 5 Sima taels as one 99 standard. For gold bars, the traditional spot trading methods of open bidding and gesture transactions are still used, and there is no gold and silver trading field that reflects real-time market conditions on a computer network. The second is a gold market that is formed by foreign capital merchants for settlement in London and is closely linked to the London gold market. The fixed trading place is generally called the'local London gold market'; the third is the gold futures market, which is a formal market. Its nature is the same as that of gold futures on the New York and Chicago Commodity Futures Exchanges in the United States. The trading method is regular and the system is relatively sound, which can make up for the shortcomings of the gold and silver trading market. 5. Tokyo Gold Market The Tokyo Gold Market was established in 1982 and is the only gold futures market officially approved by the Japanese government. The vast majority of members are Japanese companies. The gold market is priced in yen per gram, the standard gold fineness of delivery is 99.99%, the weight is 1 kg, and each transaction contract is 1000 grams. 6. Singapore Gold Exchange. Singapore Gold Exchange was established in November 1978. Currently, it often operates gold spot and 5 types of futures contracts for 2, 4, 6, 8 and 10 months. The standard gold is 100 ounces of 99.99% pure gold. There are suspension restrictions. Previous post: Eight kinds of deceptive behaviors should be guarded against when investing in gold Next post: Gold futures rise