As a global financial asset, gold has become an important investment and financial management tool. Because of its rare, corrosion-resistant and ornamental precious metal characteristics, it has long been a consumer luxury and souvenir such as jewelry and medals. Since the establishment of1March 1968 15 double gold market, gold, as a financial asset, has formed the world gold market. The price of gold fluctuates as violently as other assets, for example, from 1980 to 1985, with the highest price of $850 per ounce and the lowest price of $285-and of course, the role of the exchange rate of the US dollar. According to the report of the World Gold Council's gold demand trend, in the fourth quarter of 200012000, the global personal investment demand for gold products increased by 8%, which was higher than the annual investment demand increase of 4%. In 200 1 year, the global demand for gold was 3,235 tons, of which the demand for gold ornaments was 2,840 tons, down 2% compared with 2000, while the demand for gold investment was 395 tons, up 4% compared with 2000. It is reported that in the history of gold sales in the world, it is rare to see such a spectacular scene: in the gold shops on the streets of Japan, people rushed to buy gold, and a couple suddenly moved 30 to 40 kilograms of gold into their cars. Japanese industry insiders said: "I feel that when people buy gold, they look like they are snapping up bargains."
Gold funds have many advantages. The investment value of gold is mainly reflected in four aspects: long-term preservation, final assets, high liquidity and asset diversification. The gold fund is managed by the Investment Committee, which has less investment risk and stable expected annualized income, and has the same characteristics as the well-known securities investment fund. Investing in gold funds is less risky than owning gold directly, especially when the gold market is optimistic due to inflation and currency depreciation. Gold mining companies make money, so investors can distribute dividends. In addition, the fund invests in gold mining companies in various countries, and individuals cannot directly own gold. Therefore, this kind of fund is especially suitable for investors in inflation.
The investment market of gold funds is roughly the following exchanges.
1, United States: most countries and regions and official holders of international financial institutions deposit gold in the United States, of which more than 10000 tons are deposited in the Federal Reserve Bank of new york. The storage place is a huge underground gold maze, in which gold warehouses of various countries or institutions are scattered all over the place, but see the Golden Mountain Tower, resplendent and magnificent. When gold needs to be delivered after the transaction, porters move huge gold bars or nuggets from the seller's warehouse to the buyer's warehouse. Because of the huge transaction volume, they move around every day according to the transaction demand, and they are really people who move Jinshan. The gold market in New York developed after 1975 abolished the gold control. With new york becoming the fourth largest gold processing center in the world, the New York gold market has become a link between gold producers and processors. Among them, gold bars often weigh 400 ounces or 100 ounces.
2. London: It is an old gold market, which consists of five traditional gold banks. The price of gold is fixed, once in the morning and once in the afternoon. The fixed price of London gold is almost the benchmark price of the world gold market. London's gold trading scale ranks first in the world.
3. Switzerland: Switzerland has created a free and confidential environment for gold trading because of its neutral position and special banking system, so it has become the world's largest gold transit station and a newly-built private gold storage center. Zurich Golden Pool consists of First Boston Bank (CSFB) and UBS Group AG. It is not under the jurisdiction of the government and does not implement the deposit system.
4. The Hong Kong gold market opened on 19 10, which is the main gold distribution center and settlement center in the Far East, connecting the New York gold market and the European gold market.
5. Singapore gold market was established in 1969, and it rose because of the re-export conditions.
6. The establishment of China Shanghai Gold Exchange has made the gold market, money market, securities market and foreign exchange market in China form a complete financial market system in China.