Hello! 1. The quotation sources are different: the quotation of paper gold is determined by China Merchants Bank, and the bank has the right to adjust the quotation according to market conditions; However, the quotation source of spot and deferred settlement transactions of lucky money is Shanghai Gold Exchange, and banks have no right to adjust the quotation.

2. Can it be delivered in kind: paper gold is book-entry gold, and customers cannot deliver and pick up physical gold; Cash and deferred settlement transactions of lucky money can provide physical delivery.

3. Different trading hours: paper gold can be traded continuously for 5×24 hours; Spot and deferred settlement transactions of lucky money will be closed every trading day, and continuous transactions cannot be provided.

4. Different transaction currencies: Paper gold is quoted in RMB or USD; Lucky money is quoted and traded in RMB.

Thank you for your attention!