Overview
The Forward Gold Trading means that the customer buys gold from or sells gold to us at a specified future time (i.e. clearing on T+N, with N more than two trading days), denominated in USD, based on his need for hedging.
Features
This business is a gold derivative trading. Customers can buy or sell gold forwards for hedging and risk hedging based on their own production and selling status of gold product and market situation.
Benefits
Upon transaction, customers may deposit margin or use the credit extended by us. A small quantity of fund is occupied to realize hedging at a lower cost.
Procedures
1. Customers submit the application materials for forward gold trading, mainly including documents about recent operating status and financial standing.
2. Upon approval, customers conclude the General Agreement on Forward Gold Trading of Agricultural Bank of China with us, agreeing upon relevant elements including trading method, clearing and deposit.
3. According to market situation, customers complete gold trading as contracted and ABC freezes related deposit.
4. Upon maturity, gain/loss is cleared as contracted.
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