深圳地方监管出手，黄金预定价、杠杆、延期等交易都不能做了

Core Viewpoint - The Shenzhen Municipal Financial Management Bureau has issued a public notice to further regulate illegal gold trading activities, specifically targeting gold pre-pricing transactions, leveraged trading, and deferred trading, which have been linked to fraudulent investment schemes [3][6][9]. Group 1: Regulatory Actions - The notice explicitly prohibits enterprises from engaging in illegal gold pre-pricing transactions, leveraged trading, and deferred trading, which are often disguised as legitimate gold trading activities [6][9]. - The regulatory body has identified that some gold trading platforms have been operating under the guise of "physical gold transactions" while actually conducting futures-like trading, leading to significant risks for investors [4][9]. - Recent market volatility in gold prices has accelerated the exposure of risks associated with these trading models, prompting a stricter regulatory approach [4][10]. Group 2: Market Practices and Risks - Some gold trading platforms have allowed investors to participate in high-leverage trading with as little as a 2.4% deposit, creating a false sense of security and attracting inexperienced investors [3][6]. - The pre-pricing trading mechanism allows investors to speculate on gold prices without actual physical delivery, which has led to significant financial exposure and risks for both investors and platforms [6][7]. - Recent reports indicate that several gold pre-pricing platforms have faced difficulties in fulfilling payment obligations, with one platform reportedly involved in a crisis affecting over 10 billion yuan [3][7]. Group 3: Legal and Administrative Measures - The regulatory framework will focus on two main areas: pre-pricing business (futures-like activities) and financing activities based on gold, both of which exhibit strong financial characteristics [10]. - Violations of these regulations may result in the revocation of business licenses and administrative penalties for responsible parties, with potential criminal charges for entities engaging in fraudulent practices [10][11]. - The distinction between legitimate physical gold transactions and financial instruments will be crucial in determining the legality of various business operations in the gold market [10].