Background Knowledge: Gold Market System
The gold market has different division of labor and convergence.
International Gold
market
Itself is the deepening of the international division of labor service system.
futures
The exchange of gold futures and options offered by the exchanges has increased the liquidity of the world gold market.
Bank
And gold brokers can use these tools to manage the price risk of gold from the world monetary system.
The spot price of gold is still concentrated in the London gold market, serving the bulk spot trading between producers, smelters and gold banks.
In particular, London's world financial center and its developed banking business have facilitated gold OTC derivatives trading, financing arrangements, and central bank's gold operation.
All kinds of gold businesses cross and infiltrate.
For example, the functional boundaries between exchange traded and over-the-counter derivatives are increasingly blurred, and the substitution between the two types of pactions is stronger and stronger.
The standard of futures / options in the field is converted into more flexible OTC contracts through members and gold banks, while active trading on the off-site increases the liquidity of the contracts.
Derivatives in the world gold market can be divided into standardized field trading varieties and non standardized OTC varieties.
The standardized field trading product refers to the gold market derivatives with high standardization of product trading elements. The trading places are mostly officially recognized by the official market, the main varieties include gold futures, options, gold ETF and so on.
Gold trading market is a place where gold suppliers, speculators and speculators conduct pactions.
After hundreds of years of development, the world's major gold markets have formed relatively complete and distinctive trading modes and trading systems due to their different environment and paths.
The gold market in the world is mainly distributed in three regions: Europe, Asia and North America.
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