Floating exchange rate system means that the Central Bank of one country does not stipulate the official exchange rate between its own currency and that of other countries, and allows the exchange rate to be determined spontaneously by the foreign exchange market. When the supply of foreign currency exceeds the demand, the foreign currency depreciates, the local currency appreciates, and the foreign exchange rate falls. On the contrary, the foreign exchange rate rose.
Generally speaking, the buyers and sellers of gold futures sell and buy back the same number of contracts as the previous contracts before the expiration date of the contract, that is to say, close positions, without real delivery of real gold. The profit or loss of each exchange is equal to the difference between two contracts in the opposite direction. This kind of business is what people usually call “speculation”. Gold futures contracts only need about 10% of the transaction amount of the deposit as the investment cost, which has greater leverage, a small amount of funds to promote large-scale transactions.
The following are the trading hours of each major trading market: New York market – est 8:00 a.m. to 4:00 p.m. London market – est 3:00 a.m. to 11:00 a.m. Tokyo market – est 8:00 p.m. to 4:00 a.m. Sydney market – est 7:00 p.m. to 3:00 a.m. the main trading markets have two overlapping trading periods, one is est 2:00 a.m. to 4:00 a.m., and the Asian and European markets overlap; The other is EST from 8:00 a.m. to 12:00 p.m. with overlapping markets in Europe and North America.
The gold market in New York and Chicago developed in the mid-1970s. The main reason is that after 1977, the dollar devalued, and the Americans (mainly corporate groups) made a rapid development of gold futures in order to hedge and increase investment value. At present, Comex and IMM are the largest gold futures trading centers in the world. The two exchanges have a great influence on the gold price in the spot market. Take the New York Mercantile Exchange (Comex) as an example. The exchange itself does not participate in the trading of futures.
London’s gold market has a long history, which can be traced back more than 300 years. In 1804, London replaced Amsterdam, the Netherlands, as the center of the world’s gold trading. In 1919, the London gold market was officially established, and gold pricing was conducted twice a day in the morning and afternoon. The gold market price of the day is set by the five major gold banks, which has been influencing transactions in New York and Hong Kong. The main supplier of gold in the market is South Africa. Before 1982, London gold market mainly engaged in spot trading of gold.
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However, due to the fact that there is no need to sign in person, the admission authority is very strict in the examination of the information of international students, and generally fails to pass any defective or questionable information. So we must be careful when handling materials. Due to the large number of enrollment materials in Japan.
In short, although the borrower has a stable income, he has a lot of money in debt and has a lot of debt pressure. The probability of applying for a loan is high, and financial institutions are naturally unwilling to take this risk. Because a person’s income is not only used for repayment, but also for daily living expenses, so financial institutions have a certain range of requirements for the debt ratio of loan applicants.