中国科技核心期刊
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中国黄金期现货价格关联及基差影响因素分析
- 翁赫
- 作者单位：
- 上海国际黄金交易中心有限公司
基金项目：
- isnull
详细信息：
- 作者简介：
- 翁赫（1993—），男，经济师，从事贵金属创新产品和交易机制研发工作；E-mail:he.weng@foxmail.com
- 通讯作者：
- isnull
- PDF下载
Analysis of the correlation between futures and spot prices of Chinese gold and factors influencing the basis
- English Author：
- Shanghai Gold Exchange International
- Unit：
- 摘要
- 在线预览
- 参考文献
摘要:
中国黄金现货市场与期货市场发展已有多年时间，期货与现货价格之间的关系紧密，但2022年期货与现货价格出现异常波动。分析了黄金期货与现货价格关系及影响因素，并从利率、波动率及市场情绪3方面对期货与现货基差波动原因进行探析，同时探讨如何利用衍生工具应对当前市场的期货与现货价格关系变化。对黄金期现货价格影响因素的研究和探析，不仅能够提高投资者对期现货市场的认识，而且有助于黄金企业更好地进行套期保值。
关键词:
黄金期货；黄金现货；价格；基差；利率
Abstract:
The Chinese gold spot and futures markets have been developing for many years,and there is a close relationship between futures and spot prices.However,in 2022,there were abnormal fluctuations in futures and spot prices.This study analyzes the reasons for the abnormal fluctuations in futures and spot prices from the perspectives of interest rates,volatility,and market sentiment.It also explores how to use derivative instruments to cope with the changing relationship between futures and spot prices in the current market.The research and analysis of factors influencing the gold futures and spot prices can not only improve investors’ understanding of the futures and spot markets but also help gold enterprises better hedge their positions.
Keywords:
gold futures;gold spot;price;basis;interest rates
