北京时间2月2日早间，现货黄金、白银大跳水，现货白银日内跌幅扩大至10%，报76.89美元/盎司。现货黄金向下跌破4700美元，日内下跌3.33%。 31日，国内黄金饰品价格继续回调。周生生官网发布数据显示，足金饰品报1618元/克，该店于29日足金饰品报1708元/克，两日跌去90元/克。 黄金价格大跌，多品牌设置退货手续费 在过去几天，现货黄金价格经历了"过山车"般的行情，受金价下跌影响，国内品牌金饰价格相应回调。 老庙黄金官网发布数据显示，足金饰品报1546元/克，该店于29日足金饰品报1706元/克，两日跌去160元/克。 而线上方面退货规则相对复杂，不同平台和品牌有所区别。大多数平台和品牌都不接受投资金类产品如金币、金条的退货；针对黄金首饰，部分品牌提出 了签收后24-48小时内退货的限制（需不影响二次销售）。 面对市场波动剧烈可能产生的摇摆心理，部分品牌/平台设置了相关退货规定：生成物流单号/发货后再退款，需扣除订单金额1%-5%的手续费及快递运保 费。部分品牌则表示，金条付款成功后15分钟内可申请退款，逾期将直接拒绝退款。 记者发现，有黄金品牌柜台销售人员在社群中发布声明称：不能因为金价降了就要 ...

Core Viewpoint - The recent sharp decline in gold and silver prices has sparked significant market discussion, primarily driven by expectations of a hawkish policy from the newly appointed Federal Reserve chairman, alongside profit-taking and liquidity issues in the market [1][3]. Group 1: Price Movements - On January 31, spot gold prices fell by 12.92%, dropping below $4,700 per ounce to a low of $4,695, marking the largest single-day decline since April 1980 [1] - Spot silver prices experienced a dramatic drop of up to 36%, reaching a low of $77.7 per ounce, the largest single-day decline since February 1983 [1][2]. - The closing price for spot gold was reported at $4,894.49 per ounce, reflecting a decline of over 9%, while spot silver closed at $84.63 per ounce, down nearly 27% [2]. Group 2: Market Reactions - Following the price drop, several banks, including ICBC and CCB, issued risk warnings and adjusted their gold investment services, advising investors to assess their risk tolerance and maintain a rational investment approach [4][5]. - Major jewelry brands have also adjusted their gold prices, with many returning to the range of 1,500-1,600 yuan per gram, reflecting the international price drop [2]. Group 3: Future Outlook - Analysts from China International Capital Corporation (CICC) remain optimistic about the long-term prospects for gold, suggesting that the bull market may not be over despite the recent volatility [3]. - The core reasons for the recent decline include signals from the Federal Reserve regarding delayed interest rate cuts and personnel changes, leading to panic selling [3]. - The long-term support for gold prices is expected to come from continued central bank purchases, anticipated rate cuts by the Federal Reserve, and geopolitical risk factors [3].

Core Viewpoint - Several major Chinese banks have adjusted their gold accumulation business and issued risk warnings due to significant fluctuations in gold prices and increased market uncertainty [1][2][7]. Group 1: Bank Adjustments - Industrial and Commercial Bank of China (ICBC) has modified its gold accumulation business rules, implementing limit management for transactions on non-trading days starting February 7 [3]. - The minimum investment amount for ICBC's gold accumulation was raised from 1,000 yuan to 1,100 yuan as of January 8 [4]. - China Construction Bank increased the minimum investment amount for its gold accumulation business to 1,500 yuan starting February 2 [5]. - Agricultural Bank of China requires clients to complete a risk assessment and achieve at least a cautious rating to engage in gold accumulation activities starting January 30 [14]. Group 2: Risk Warnings - ICBC advises investors to assess their risk tolerance and maintain a rational investment approach, suggesting a diversified investment strategy [2]. - China Bank has highlighted the uncertainties in the precious metals market since 2026 and urges clients to manage their exposure to prevent potential losses [7]. - Bank of Communications has set restrictions on gold wallet transactions based on clients' risk assessment results, allowing only those with higher risk profiles to engage in all business activities [10].

本报讯（沈阳日报、沈报全媒体记者周贤忠）1月30日下午，市委政法委会同市法院、市检察院、市公 安局，依托沈阳中央法务区法治服务体系，组织金融审判、知识产权保护、公安经侦、民事执行等方面 业务骨干，在沈阳创新天地参加"政银企"对接活动（第二场）。 活动期间，各单位负责同志通过面对面交流、点对点对接，先后为中国银行、工商银行、邮储银行、民 生银行等金融机构及相关企业，解答了金融借款诉讼、金融犯罪防范等方面的法律问题，并发放了《法 官说法》《风险防范指引》等实用资料，为参与单位提供了"一站式""全链条"法治服务。参与此次活动 的政法机关表示，将以此次活动为契机，精准对接金融机构和企业法治需求，持续创新服务举措，不断 优化服务方式，提供更加优质、高效、精准的法治服务保障。 转自：沈阳日报 （来源：沈阳日报） ...

格隆汇2月1日｜随着近期金价大幅震荡，工行、农行、中行、建行、交行等多家银行相继调整积存金相 关业务，并发布风险提示。 工商银行今日发布消息称，近期国内外贵金属价格波动剧烈，市场不确定性显着增强。建议投资者在审 慎评估自身风险承受能力的基础上，保持理性投资心态，避免盲目追涨杀跌，合理控制持仓规模，有效 防范市场波动风险。工行还公告，自2月7日起，在周末以及法定节假日等非上海黄金交易所交易日，该 行将对如意金积存业务进行限额管理，限额类型包括全量或单一客户单日积存/赎回上限、单笔积存或 赎回总量上限等，并进行动态设置，提金不受影响。 建设银行称，自2月2日上午9时10分起，个人黄金积存业务定期积存起点金额上调至1500元人民币。农 行建议投资者增强风险防范意识，基於自身财务状况和风险承受能力理性办理存金通黄金积存业务。 中国银行表示，2026年以来，贵金属市场的不确定性因素较多，价格大幅波动。提示各位客户做好市场 风险防范，基於自身财务状况和风险承受能力开展贵金属交易活动，合理控制贵金属持仓规模，防范贵 金属价格波动带来的资金损失风险。 ...

Group 1 - The iconic "Golden Avenue" at the Macau Emperor Entertainment Hotel has lost its 78 kilograms of gold embedded in the lobby floor tiles, raising suspicions among netizens about its removal by staff [1][3] - The gold, valued at over 85.8 million yuan based on the domestic gold price exceeding 1100 yuan per gram, was confirmed to have been removed for internal renovations, not due to gold price fluctuations [3][4] - The Macau Emperor Entertainment Hotel is owned by Emperor Entertainment Hotel Limited, and the "Golden Avenue" was made up of 78 individually numbered gold bars of Swiss 999.9 pure gold [4] Group 2 - Several major banks, including ICBC, ABC, BOC, CCB, and Bank of Communications, have adjusted their gold accumulation business in response to significant fluctuations in gold prices [5] - ICBC announced changes to its gold accumulation business rules, including a new minimum purchase amount of 1100 yuan and limits on transactions during non-trading days [6][9] - CCB raised the minimum amount for personal gold accumulation to 1500 yuan and advised customers to be aware of market risks due to increased volatility in precious metals [10][12] - Bank of Communications implemented restrictions on gold-related transactions based on customers' risk assessment results, allowing only certain profiles to engage in all business activities [13] - ABC required customers to complete a risk assessment before engaging in gold accumulation services, emphasizing the importance of risk awareness [15] - BOC highlighted the uncertainties in the precious metals market since 2026 and urged customers to manage their positions carefully to mitigate potential losses [15]

中经记者 张漫游 北京报道 近日，工商银行、农业银行、中国银行、建设银行、交通银行、邮储银行六家国有大行陆续召开2026年 党建和经营（管理）工作会议，对2026年重点任务进行部署。 《中国经营报》记者梳理发现，2026年，4家国有银行明确要布局数智化发展，在2025年仅一家国有银 行提到数智化；同时2026年多家银行提出降本增效。 业内人士认为，这一变化折射出在经济增长模式深化调整、利率市场化持续推进、客户行为深度线上化 以及金融科技深刻演进的宏观背景下，中国银行业正从规模扩张驱动转向质量与效率驱动，科技与智能 正从辅助工具演变为重塑业务模式与核心竞争力的重要抓手。 从"数字化"到"数智化" 在2026年的重点工作部署中，数智化转型成为多家国有大行的核心发力点。其中，工商银行在"提升高 质量发展能级，展现服务现代化新担当"时提到，要"升级打造数智工行，增强数智化动能"；建设银行 方面谈到，2026年要"加快推动集团数智化转型，持续提升企业级运营能力"；交通银行方面强调"要深 入推进'人工智能+'行动，强化数智化思维、深化实践运用，通过AI技术重构业务流程、创新服务模 式"；邮储银行方面指出，要"全面推进特色 ...

多家银行发文提示风险。 2月1日，工商银行通过"工银金行家"公众号发布关于进一步做好贵金属市场风险防范的提示。 工商银行称，近期国内外贵金属价格波动剧烈，市场不确定性显著增强。建议客户在审慎评估自身风险承受能力的 基础上，保持理性投资心态，避免盲目追涨杀跌。建议从中长期视角考虑，坚持分批分散、适度均衡的原则进行投 资配置。请密切关注行情变化，合理控制持仓规模，有效防范市场波动风险。 此前，工商银行还分别在1月29日及30日发布风险提示称，国际市场复杂多变，贵金属价格波动剧烈，建议投资者理 性投资。 当地时间1月30日， 贵金属市场全线暴跌。现货白银、COMEX白银跌超25%，铂金、钯金期现均跌超 10%，黄金现货跌超9%，COMEX黄金跌超8%。此外，有色金属亦普遍下跌，LME锡跌超8%，LME 铜、LME镍跌超4%。 更早前，1月30日，建设银行发布公告称，自2月2日9:10起，个人黄金积存业务定期积存起点金额（包括日均积存及 自选日积存）上调至1500元。该行后续将持续关注黄金市场变动情况，适时对上述起点金额进行调整。 建设银行还表示，近期国内外贵金属价格波动加剧，市场风险提升。请客户增强贵金属业务的风险 ...

Core Viewpoint - Several major banks in China, including ICBC, ABC, CCB, and BOC, have adjusted their gold accumulation business and issued risk warnings due to significant fluctuations in gold prices and increased market uncertainty [1][2][5][7][13]. Group 1: ICBC Adjustments - ICBC announced adjustments to its gold accumulation business, advising investors to assess their risk tolerance and maintain a rational investment mindset to avoid impulsive trading [2]. - Starting February 7, ICBC will implement limit management on its gold accumulation business during non-trading days, including daily limits on accumulation and redemption [3]. - The minimum investment amount for ICBC's gold accumulation was raised from 1,000 yuan to 1,100 yuan as of January 8 [4]. Group 2: CCB Adjustments - CCB increased the minimum investment amount for its gold accumulation business to 1,500 yuan starting February 2, 9:10 AM, and will continue to monitor market changes for further adjustments [5]. - CCB emphasized the need for clients to enhance their risk awareness regarding precious metals investments and to manage their positions carefully [7]. Group 3: Other Banks' Adjustments - From January 31, Bank of Communications will restrict gold wallet services to clients with a risk tolerance assessment of growth, aggressive, or very aggressive types, while others can only perform limited transactions [8]. - Agricultural Bank of China requires clients to complete a risk assessment questionnaire and achieve at least a cautious rating to engage in gold accumulation services starting January 30 [12]. - Bank of China highlighted the uncertainties in the precious metals market since 2026 and urged clients to manage their positions carefully to mitigate potential losses from price fluctuations [13].

1. Report Industry Investment Rating No information provided in the content. 2. Core View of the Report The report delves into the investment opportunities of 10 - year secondary capital bonds. It analyzes the development history of commercial bank secondary capital bonds, the issuance and trading condition of 10 - year secondary capital bonds, the main investors, and provides investment strategies from both allocation and trading perspectives [4][7][49]. 3. Summary According to the Directory 10 - year Commercial Bank Secondary Capital Bond Decryption - **Development History of Commercial Bank Secondary Capital Bonds**: The development of China's commercial bank secondary capital bonds can be divided into four stages. From 2004 - 2012, it was the "old - style sub - debt" stage; from 2013 - 2019, "new - style secondary capital bonds" emerged; from 2020 - 2023, the market's risk perception deepened; from 2024 to the present, the market entered a new innovation cycle [4][8][9]. - **The "Past and Present" of 10 - year Secondary Capital Bonds**: The first 10 + 5 - year secondary capital bond was issued by Agricultural Bank of China in March 2019. Since 2019, only state - owned large - scale banks and state - owned joint - stock banks have issued 10Y secondary capital bonds. The state - owned large - scale banks are the main issuers, with Agricultural Bank of China having the largest issuance volume. In terms of the stock, the secondary capital bonds with a remaining term of 3 - 5 years have the largest stock, followed by those with a remaining term of 7 - 10 years [18][22][24]. - **Secondary Transaction Situation of 10 - year Secondary Capital Bonds**: From January 1, 2025, to January 13, 2026, the secondary capital bonds with a term of 3 - 5 years were the most actively traded, followed by those with a term of 1 - 3 years. The 7 - 10 - year secondary capital bonds ranked fourth in terms of trading volume. The 9 - 10 - year secondary capital bonds had the largest trading volume among long - term bonds, and the 10 - year secondary capital bonds issued by Agricultural Bank of China had the best liquidity [30][32][33]. - **Who is Buying 10 - year Secondary Capital Bonds**: Insurance institutions are the main buyers of 10Y secondary capital bonds, with a net increase of about 1.6 billion yuan in 7 - 10Y secondary capital bonds in the past year. However, due to accounting treatment issues, insurance funds are more cautious in asset allocation. The increase in trading volume in the past month may be due to insurance companies' net purchases. In addition, securities companies, insurance companies, and fund products are the top three buyers in the past month, but the net purchase scale of securities companies is negative, indicating a stronger trading nature [36][42][43]. Investment Strategies for 10 - year Secondary Capital Bonds - **From the Perspective of Allocation**: The report uses interest rate spread and variety premium as key indicators to measure the relative value of 10Y secondary capital bonds. In terms of interest rate spread, when the funds are loose and the interest rate spread is high, the yield of 10Y secondary capital bonds may decline. In terms of variety premium, the trend of 10Y secondary capital bonds is highly consistent with that of ultra - long local bonds, with a "volatility amplification" effect in some periods [50][52][54]. - **From the Perspective of Trading**: The report reviews the term spread, the order of yield peaks of 10Y secondary capital bonds and other varieties, and the spread indicators between secondary capital bonds and urban investment bonds. Since 2025, the term spread between 10Y and 5Y secondary capital bonds has moved in the same direction as the 10Y secondary capital bond. In the interest rate upward cycle since 2023, 10Y secondary capital bonds have risen and fallen in the same direction as other varieties; in the downward cycle, almost all varieties reach the stage low at the same time. When the spread between 10Y secondary capital bonds and 10Y urban investment bonds turns negative, the yield of 10Y secondary capital bonds often has room to decline [59][66][76]. - **Summary of Trading Strategies**: The report provides a basic framework for investment decisions by reviewing historical experiences from the perspectives of allocation and trading, and summarizing the core judgment indicators and rules for the interest rate to reach the stage peak and bottom [81][82][83].