What is paper gold?

What is paper gold? As the name suggests, paper gold is the gold that trades on paper. It can replace the complexity of the reserve of physical gold trading. He can trade directly in the bank. There are three banks in China that can handle paper gold business. They are Bank of China, Industrial and Commercial Bank of China. ,China Construction Bank. Next, let's take a detailed look at what is paper gold .

What is paper gold?

Paper gold refers to the paper transaction of gold. The transaction record of the investor is only reflected in the “golden passbook account” pre-opened by the individual. The withdrawal of the physical gold is not the personal voucher gold. Its quote is similar to the foreign exchange business. That is, following the volatility of the international gold market, customers can make a difference by grasping the market trend and buying high and throwing. Paper gold can also be called a gold document, which means that the gold owner holds only a property certificate rather than a gold object. The gold owner can withdraw or control the gold object at any time with this certificate. It is called paper gold. It is the gold futures contract that can determine the delivery date. The gold spot contract, such as the gold warehouse order, is available at any time.

Paper gold is generally issued by commercial banks, gold companies or large gold retailers with strong financial strength and good credit standing in the gold market. For example, a gold bank's regular deposit certificates, gold money orders and gold account passbooks, gold bills of lading or gold warehousing documents issued by the Shanghai Gold Exchange, gold bonds issued by gold companies, and so on.

The paper gold profit model is to buy the difference profit by buying low and selling high. Relative to physical gold, its transactions are more convenient and faster, and transaction costs are relatively low, suitable for professional investors to carry out short-term operations. At present, there are three banks in China that have started the paper gold business, namely the gold treasure of the Bank of China, the gold banker of the Industrial and Commercial Bank of China, and the account of China Construction Bank.

Since the subject matter of liquidation and settlement after the sale of paper gold is a gold ownership certificate rather than a gold object, paper gold can be traded in the primary market of the exchange or in the secondary market. It is generally determined by the issuer of paper gold that it is trading in any market. That is, if the paper gold transaction is issued by a commercial bank, it will be bought and sold on the counter of the commercial bank, and the bank that issued the gold certificate will handle the transfer and settlement procedures; if it is issued by the exchange, it should be on the exchange floor. Internal transactions and transfer settlement procedures at the Exchange Clearing Department.

In the paper gold trading method, gold speculators make money transfer transactions on designated fund accounts each time they make gold trading transactions through banks, and transfer funds to the gold deposits on the opened gold passbooks without gold. Physical extraction and settlement. The paper gold trading method simplifies the clearing and settlement procedures after the transaction, which saves transaction costs and reduces transaction costs.

In order to simplify the transaction procedures and facilitate the promotion of business in various business outlets of commercial banks, the bank stipulates that the paper gold investment business does not directly receive cash and does not make the physical delivery of gold. Therefore, the gold on the customer's gold account can only be sold as a buyer. Out of the transaction, it is not possible to extract or store the physical objects of gold.

In the process of paper gold trading, due to the fact that there is no secondary clearing and settlement of real gold withdrawal and settlement between banks and individual investors, the formalities of color registration and weight detection in gold trading are reduced, simplifying gold. The process of physical delivery speeds up the flow of gold transactions. At the same time, the deposit of the customer's gold passbook account can be used as a sell transaction, or as a collateral or margin to apply for a gold loan from the bank. Therefore, the launch of the paper gold transaction will bring great benefits to the individual investors involved in the transaction. Convenience.

The price mark of paper gold trading is divided into the bid price and the selling price. The difference between the bid price and the selling price is the spread of paper gold trading.

The bid price is the price used by the bank to buy gold from the customer, and the selling price is the price used by the bank to sell gold to the customer. Since the sale of Jinbao is not a real gold delivery, it saves some steps such as transportation, storage, inspection and appraisal of gold, so the additional cost is less than the actual gold trading, that is, the difference between the purchase price and the selling price. Less than the difference in real gold trading.

At present, the middle price of paper gold trading that domestic commercial banks have begun to operate is the benchmark price of commercial banks trading on the Shanghai Gold Exchange. The secondary settlement fees for on-exchange transactions such as taxes, transportation insurance, storage and storage, and bank fees are The difference between the bid price and the bid price reflects that the bank no longer charges other transaction fees to the investor, and the bank does not pay the deposit interest to the depositor.

At present, the gold business provided by banks is roughly divided into two types, “physical gold” business and “paper gold” business.

The physical gold business refers to the purchase and sale of physical gold. Its investment preservation has strong characteristics and is the first choice for those who pursue gold preservation. It is suitable for investors with long-term investment, collection and gift needs. In the case of the middle behavior, the bank's physical gold business is divided into its own brand entity gold business and agent sales entity gold business. As a banking partner of the Beijing 2008 Olympic Games, the bank recently launched a series of physical gold products with the theme of the Olympics. The market response was quite enthusiastic.

The “paper gold” business refers to the way in which investors buy and sell gold on the books to earn a profit. Even people who haven't tried any gold or forex trading are relatively easy to get started with. As long as you master some trading skills and pay attention to market progress, you will be able to gain some. The “Golden Treasure” launched by BOC Shanghai Branch in November 2003 is a paper gold business. Investors can directly buy or sell paper gold through counters, telephone banking, online banking and self-service banking terminals based on the “Golden Treasure” price. Compared with real gold, the whole process of paper gold does not occur in the second clearing and settlement of real gold extraction and settlement, thus avoiding the procedures of color identification and weight detection in gold trading, omitting the operation process of gold physical delivery. For investors who have the willingness to “sell gold”, the transaction of paper gold is simpler and more convenient, and the profit margin is greater.

Paper gold purchase method

Paper gold purchase method

What is paper gold? How does paper gold trading work? In fact, the so-called speculative gold refers to the paper gold transaction. In general, paper gold means that investors do not directly hold gold in kind, and their rights are only reflected in the account. The customer earns the difference by trading on the account. There are two situations here:

First, buy paper gold in full and wait until the price of gold rises before selling. The average novice uses this method; the other is to pay a portion of the deposit, and use the principle of leverage to amplify the transaction, which can be either bullish or bearish, and is a relatively 'high-minded' trading method.

One: bank paper gold

On November 18, 2003, the Bank of China Shanghai Branch commissioned the personal gold trading business of RMB to the principal, also known as 'Golden Treasure', paper gold trading. It refers to the non-overdraft RMB-to-local currency transactions between individual customers and bank counter service personnel. The sale of paper gold opened the first place for domestic individuals to speculate in gold. After that, ICBC launched the gold business, and other major banks also launched related businesses. At this point, the paper gold began to enter the investor's investment projects. The following is a specific understanding of what is paper gold with the gold treasure business carried out by the Bank of China.

1: Use RMB quote: Yuan and Ke's quotation method is very suitable for domestic trading habits, the buyer and seller points are one yuan, and there is no fee. The single transaction volume reaches 1000--5000--10000g, and the system will automatically give different discounts.

2: Trading service time: The situation varies from line to line, up to 18 hours per day. Covers international trading hours.

3: Trading method: Paper gold is mainly carried out through bank counter service personnel, telephone transactions and other methods.

4: Trading method: Paper gold can be used for market price trading (also known as time-price trading, trading in time according to the bank's current quotation), or entrusted trading [also known as listing trading, the trader first leaves the trading order to the bank, when After the bank's offer reached expectations, the banking system immediately executed the order. It is a convenient way].

5: Fund settlement time: Paper gold can be repeatedly traded on the same day, but the first transaction must buy gold, and can not be overdrawn.

Here are two ways to operate the transaction:

Two: telephone transaction

1: Handling the Bank of China's current one-pass and Great Wall debit card, depositing a certain amount of cash.

2: Apply with a valid ID card to the Bank of China outlet, fill out the relevant form, and then hand it over to the service staff along with the current one and the Great Wall Card.

3: Enter the account password and the phone transaction account will be opened. When making a telephone transaction, the customer can use the answering machine to dial the transaction number and enter the correct account password to conduct the paper gold transaction.

Three: self-service transactions

1: Handling the Bank of China's current one-pass and Great Wall debit card, depositing a certain amount of foreign currency.

2: Apply with a valid ID to any Chinese bank outlet. After entering the account password, the self-service transaction account will be opened. It is time to trade only the self-service trading device, enter the correct password, and the account information will cry immediately for paper gold trading.

Type of paper gold

In addition to common gold deposit certificates, gold settlement orders, gold money orders, and large denominations of gold transferable deposit certificates, paper gold types also include gold bonds, gold account passbooks, gold warehouse orders, and gold bills of lading. The settlement of the transaction, as well as the International Monetary Fund's special drawing rights. Both belong to the category of paper gold.

Advantages of paper gold

First, it is bookkeeping gold, which not only saves the storage cost for investors, but also facilitates the realization of investors. After the investment of real gold purchase, you need to worry about saving and storing; when you need to realize it, you have the cost of identifying whether it is real gold. The paper gold adopts the accounting method, and the international gold price and the RMB price converted therefrom are used, which saves the inconvenience of investing in real gold.

Second, paper gold is linked to the international gold price, adopting a 24-hour uninterrupted trading model. Domestic nights correspond to the days of Europe and the United States, that is, when the price of gold fluctuates the most, it provides abundant time for the financial management of office workers.

Third, paper gold provides two trading modes of US dollar gold and RMB gold, which provides corresponding opportunities for foreign currency and RMB financial management. At the same time, paper gold adopts the T+0 delivery method. At that time, it was purchased, and it was easy to do intraday trading, which was more short-term operation opportunities than the domestic stock market. Fourth, the current quotation of Bank of China Paper Gold is the most advantageous among the peers. The smaller bilateral spread provides an opportunity for investors to obtain more income.

We explained the paper gold by the concept of paper gold, the purchase method of paper gold, the type of paper gold, and the advantages of paper gold. I believe that if you see this, you will understand what paper gold is. .

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