1. The gold bars of China Bank are the same as those of China Construction Bank. Physical gold is divided according to its purity. Generally, the purity level is the same, but the processing fee is different because of the difference of processing industry and merchants. The public's understanding of "physical gold" is a gold ornament in daily life, which is inconsistent with the definition of physical gold in the trading market. In fact, what we need to discuss is the difference between the physical gold in the trading market and those commemorative coins and jewels.

2. The former refers to commemorative gold bars and coins, such as "Olympic gold bars", "New Year gold bars" and "Panda gold coins", while the latter refers to various gold ornaments. The price of gold does not depend entirely on the fluctuation of the original price of gold; At the same time, due to the high premium caused by processing costs and the poor liquidity caused by the inconvenience of repurchase, investors cannot fully enjoy the benefits brought by the rise in gold prices when buying such physical gold.

I. Physical gold

Second, physical gold, such as buying gold souvenirs, is of course physical gold investment, but it is not a complete physical gold investment, and can only be regarded as a commemorative gold product. The significance of physical investment lies in its commemorative, collectible and commemorative gold. For example, the Panda Gold Coin issued by the People's Bank of China and the Maple Leaf Gold Coin issued by the National Bank of Canada fully demonstrated their commemorative collection value at the time of sale. If the price is calculated only by the gold content, it should be more than doubled, and the circulation and trading of commemorative gold products can only be carried out in the collection market where the price has risen and fallen. Collection market. Therefore, commemorative gold products are actually playing commemorative gold products. There is little possibility of liquidity trading in the capital market. It is not easy to circulate and trade in the capital market, and its investment nature is unimaginable. .

Second, gold bars

(Gold market investment varieties, ancient currency circulation)

The types of investment in the gold market are mainly divided into physical gold investment and gold investment derivatives derived from physical gold. Derivatives mainly include gold futures and gold options. Physical gold investment mainly includes gold bars, coins and gold jewelry.