Since it was to be the first U. S. fund entirely backed by a physical commodity, regulators also sought to understand how the concept would work.

由于这将是第一只完全由一种实体商品支持的美国基金，监管机构还在试图理解这种概念背后的机理。

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Usually refers to a cash market price for a physical commodity that is available for immediate delivery.

通常指一个可以立即进行交易的货物的市场价格。

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Physical commodity markets that are heavily dependent on China such as iron ore and rubber are down 10-15 per cent since mid-February.

自2月中旬以来，对中国依赖度很高的实物大宗商品市场——如铁矿石与橡胶市场——已下跌了10%至15%。

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They argued for a currency based entirely on tokens, with no link to an underlying physical commodity.

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But no actual trading of the physical commodity needs to take place.

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More than a physical commodity, gold is a symbol, harking back to the times when the world's monetary systems were based on it.

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