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D) the cost is many higher than gold futures. To prevent the risk of the gold market, the Shanghai Gold Exchange has regulations that commercial banks in individual agency business, individual investors must receive not less than 15% of the trading margin.
muddle in universal money, inflation seemed to make gold hedge against inflation and to reflect the specifics of the international price of gold in fewer than two months rose by 150 U.S. dollars / ounce, close to 1,400 U.S. dollars / ounce, servant gold prices are also synchronized. The soaring price of gold also additional the mall risk.
mandate to prevent keen fluctuations in gold prices occasioned by investors to speculate in gold and hurt capital, the Shanghai Gold Exchange has published the advertisement banks, stipulates that commercial banks in individual agent business, individual investors have to receive not less than 15% of the trading margin. Reporter from the Industrial Bank (601166, stock it) advised that the bank has postponed delivery products, precious metals Au (T + D), Au (T + N1), Au (T + N2), Ag (T + D) and additional contracts the proportion of individual customers bond positions from 12% to 15%. Minsheng Bank (600016, stock it) the proportion of precious metals also extended the contract margin from 10.5% to 15%.
which investors generally trust that risk management is good, yet the resulting margin is the inconsistency between the folk
present Au (T + D) approximately 300 yuan / gram, per one,000 grams offer first-hand example, the margin percentage before adjustment, investors in Minsheng Bank with 31,500 yuan (300 × 1000 × 10.5%) will be competent to operate hand Au (T + D) contract, and now it will absence four.five million (300 × 1000 × 15%), ahead and behind to spend 13,500 yuan.
Previously, banks Au (T + D) of the trading margin increased from 10.5% -15%, and there are significant differences in leverage. The margin percentage to 15% after reunification, the banks will be entirely leveraged convergence.
According to report, gold futures on the Shanghai Futures Exchange, the minimum margin of 7%, currently a cloud of futures companies in proportion to 15% charge. Au (T + D) the fare had to be much higher than gold futures, would must stay close amplified storage fees, operating costs even more uneconomical.
present, banks Au (T + D) the business merit of the contract transaction fees generally ten thousandths of a second to nineteen ten thousandths range. Such for 300 yuan / gram of gold prices, investors per transaction primary Au (T + D) contract takes charge 360-570 yuan. In increase, investors If Au (T + D) overnight stay in location, but also to disburse two millionths of each natural day extension fee is 60 yuan / hand. In the circumstance of unilateral imposition, gold futures commission commonly does no exceed 90 yuan / hand.
Topix futures Qu Tong Senior Investment Manager, said the lower margin percent likewise means greater investment hazard and amend the Au (T + D) ashore margin trading to protect investors better security, 10 periods Although it tin leverage extra telling use of funds tin be reversed once the price of gold fluctuate dramatically, the loss will be enlarged 10 times, resulting in break to customer funds.
Glossary

gold T + D: is one extension of the gold precious metals business, refers to a unified by the Shanghai Gold Exchange, developed to invest in the hereafter a particular time and place delivery of the subject matter of a definite number of standardized contracts. Traders can choose the date of delivery, delivery can be delayed indefinitely. And gold futures delivery compared to merely institutional investors, gold T + D service allows individual investors to extract cash.
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