The spot and futures are arbitrage. Generally, the gold TD of the Shanghai Gold Exchange and the gold of the Shanghai Futures Exchange are arbitrage!
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Henan Zhaheng Investment Company is the only service agency of the Shanghai Gold Exchange in Xuchang
The domestic gold futures have been improved since the listing, and the connection with the domestic and foreign spot markets has become increasingly close. However, due to the limitation of trading hours, the one -way investment strategy is facing a greater risk of emptiness. With the intensification of golden prices in recent years, the spread of the market for the spot market is also increasing, and the current cross -market arbitrage transactions have gradually received market attention.
This article selects the gold T D transaction price as the spot price benchmark, which is mainly based on the following considerations: First, the spot gold of gold T D, the requirements for delivery such as quality standards and grades are very similar to futures delivery. Some brands It can even register directly for futures orders for futures delivery. Second, the extension of T D's delay in the settlement mechanism is more flexible than spot transactions. In arbitrage transactions, the cost of delivery, warehousing and transportation can be saved, which reduces arbitrage costs to a certain extent. The margin trading mechanism of T D saves cost savings than direct spot transactions. Third, the price difference between Gold T D and gold spot is very small, mainly due to the differences in the expenses of transactions and delivery and the difference in the level of delivery.
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