Has the illegal price reservation trading of Shuibei been stopped? Expert: No physical delivery is a violation!

Before the Spring Festival, the local regulatory authorities in Shenzhen issued a reminder that illegal gold trading activities such as unauthorized gold price pre-booking, leveraged trading, and deferred trading are not allowed. Recently, I visited the Shuibei market in Shenzhen. Some businesses said that they had previously ordered gold sheet from upstream material suppliers for as low as ten thousand yuan to lock in the price of one kilogram of gold. However, after several incidents of businesses fleeing and the regulatory authorities issuing relevant reminders, gold sheet transactions in Shuibei are now conducted by paying the full amount on site and taking the gold material away. At the same time, gold businesses settle and trade with consumers using full payments. Some businesses bluntly stated that compared to convenience, fund security is more important. Experts say that transactions without physical goods may be classified as illegal activities.