There are two main types of transactions in the gold market, namely spot trading and futures trading. Gold transaction fees refer to the fees that occur and are formed during the gold transaction and that the payer must pay. Including handling fees and commissions.
There are two main types of gold trading in the gold market, namely spot trading and futures trading. Gold spot mainly refers to gold nuggets (bricks), gold ingots, gold bars and gold coins. Most transactions of newly mined gold by private individuals or gold mining companies are physical transactions. The gold purchased by customers can be stored and transferred by themselves, or they can be entrusted to gold merchants for safekeeping. Spot transactions are generally delivered immediately after the transaction is completed or completed within two days. The price of gold spot trading is relatively special. It is divided into two types: pricing trading and quotation trading in the London gold market. The characteristic of pricing transactions is to provide customers with a single transaction price, that is, no bid-ask spread. According to a single transaction price, customers can buy and sell freely, and gold merchants only charge a small commission. Quotation transactions are divided into buying and selling prices. Pricing transactions are only valid for a specified period of time, which can be as short as one minute or as long as one hour, depending on the supply and demand of market customers. The price of gold in other gold markets around the world is based on the pricing level of the London market and is determined based on the supply and demand conditions of this market. Gold futures trading does not deliver immediately after the transaction is completed. Instead, both parties to the transaction sign a contract first, pay a deposit, and then deliver on a predetermined date.