What are the terms of precious metal trading
Highest price: the highest price of a trading variety on the same day.
Lowest price: the lowest price of a transaction on the same day.
Closing price: the closing price refers to the weighted average price of the transaction price of the same subject matter five minutes before the market closing on each trading day. If there is no transaction five minutes before the market closing, the closing price of the last transaction shall be regarded as the closing price of the trading day. If there is no transaction on this trading day, the closing price of the previous trading day shall be regarded as the closing price of the current trading day. and so on.
Hand: trading unit.
Delivery of goods: according to the agreement of electronic transaction contract, the process of transfer of ownership of goods agreed by both parties to the contract.
Price limit: as a familiar term in precious metal trading, price limit refers to the maximum fluctuation range of daily trading price stipulated by the exchange in order to control market risk in spot trading.
Opening price: in the process of spot trading, the closing price of the previous day is taken as the opening price of the current trading day.
Transaction price: the transaction price through the trading system during the transaction.
Transaction quotation: refers to the price including tax of packing materials delivered and received in the designated warehouse of the market in accordance with the market standards.
Settlement: the business activity of calculating and transferring funds for the payment for goods, trading, transfer income, book price difference and equivalent amount of transaction expenses of dealers according to the trading results, the contract agreement between dealers and the relevant provisions of the market.
Designated delivery warehouse: the warehouse designated by the exchange according to the transaction needs and used for the settlement of goods when the dealer performs the electronic trading contract signed in the market.
Market opening: a term for precious metal trading. It refers to the time when an order is allowed to be placed under the trading seat of the trading system.
Closing: the time of placing an order on the day when the trading seat of the trading system ends.
Close: the time when the trading system stops trading.
Last balance: yesterday's fund, opening fund, previous date's beginning fund, current date's beginning fund.
Transaction service charge: the transaction service fee charged to both parties of the transaction.
Settlement fee: the settlement fee charged to both parties.
Available funds: the available funds refer to the special settlement funds prepared by the buyer or seller in the special settlement account for transaction settlement, which are used for transfer, handling charges, payment for goods, etc., and are not occupied by transactions.
Available funds: funds that can be allocated at present.
This is the end of the introduction of the professional terms of precious metal trading. I hope it can help you!