Core Viewpoint - The recent volatility in gold and silver prices has prompted banks to enhance risk management measures and issue warnings to clients regarding potential market fluctuations [2][3][5]. Group 1: Market Volatility - On February 2, international gold prices fell to $4403.64 per ounce, with a maximum daily drop exceeding 9%, while silver prices dropped to $71.33 per ounce, with a maximum daily decline close to 15% [2]. - Banks are responding to increased volatility in the precious metals market, with significant price fluctuations leading to heightened risk awareness among financial institutions [2][3]. Group 2: Risk Warnings from Banks - Industrial and Commercial Bank of China (ICBC) issued a warning on February 2, advising clients to assess their risk tolerance and maintain a rational investment approach amid market volatility [2]. - Agricultural Bank of China also released a notice on the same day, urging clients to carefully evaluate their financial situation before engaging in precious metals trading [3]. - Postal Savings Bank of China emphasized the importance of risk awareness and prudent investment strategies for clients involved in gold accumulation and physical precious metals business [3]. Group 3: Margin Adjustments - ICBC announced an increase in the margin requirement for personal clients trading silver contracts from 60% to 66% effective February 2, following a notification from the Shanghai Gold Exchange [3][4]. - On January 27, ICBC had already raised the margin for gold contracts from 43% to 60% due to increased market risks [4]. - China Merchants Bank adjusted its margin requirements for various gold contracts from 60% to 70% effective February 2, while maintaining a 15% limit on price fluctuations [5].

Core Viewpoint - Recent volatility in domestic and international precious metal markets has significantly increased uncertainty, prompting banks to issue warnings and adjust trading parameters to protect investors [1][3][4]. Group 1: Agricultural Bank - Agricultural Bank has issued a warning regarding the severe fluctuations in precious metal prices, urging clients to assess their risk tolerance and financial situation before engaging in trading [1][4]. - The bank announced adjustments to the trading limits for silver contracts under its Gold Market Access service, increasing the price fluctuation limit from 19% to 25% if a one-sided market condition occurs starting February 2, 2026 [1][5]. - Clients are advised to monitor market changes closely and manage their positions effectively to mitigate risks associated with market volatility [1][5]. Group 2: Postal Savings Bank - Postal Savings Bank has also highlighted the increased volatility in precious metal markets, advising clients to enhance their risk awareness and make rational investment decisions [1][5]. - The bank emphasizes the importance of avoiding impulsive trading behaviors and maintaining a balanced portfolio in light of the current market conditions [1][5]. Group 3: China Merchants Bank - China Merchants Bank has announced adjustments to its "Zhaocai Gold" business, increasing the margin requirement for various gold contracts from 60% to 70% due to heightened market volatility [3][7]. - The fluctuation limit for the Ag (T+D) contract will be raised to 25% if a one-sided market condition is observed, while it remains unchanged at 15% if not [3][7]. - These measures are aimed at safeguarding investor interests and mitigating market risks [3][7].

2月2日，农业银行（601288）发布关于进一步做好贵金属市场风险防范的提示。农业银行表示，近期国 内外贵金属市场价格波动剧烈，不确定性因素显著增强。特别提示各位客户审慎评估自身风险承受能 力，综合考虑自身财务状况开展贵金属交易业务，保持理性投资心态。请各位客户密切关注行情变化， 合理控制持仓规模，有效防范市场波动风险。 ...

Core Viewpoint - Recent significant fluctuations in gold prices have prompted major state-owned banks in China to adjust their precious metals business rules and issue market risk warnings to enhance investor risk management [1] Group 1: Bank Adjustments - Industrial and Commercial Bank of China (ICBC) has raised the minimum purchase amount for gold accumulation from 1,000 yuan to 1,100 yuan and restricted the accumulation business to C3 balanced clients and above starting from January 12 [2] - China Construction Bank has increased the minimum investment amount for its gold accumulation products to 1,500 yuan, effective from February 2, with plans for future adjustments based on market conditions [3] - Agricultural Bank of China has introduced a requirement for clients to complete a unified risk assessment before engaging in gold accumulation operations, effective from January 30 [6] Group 2: Risk Management Measures - ICBC has advised investors to rationally invest based on their risk tolerance and to control their positions to mitigate volatility risks [2] - China Bank has issued a risk warning regarding all types of precious metal businesses, urging clients to manage their holdings according to their financial situation and risk tolerance [4] - Bank of Communications has tightened client risk level requirements, allowing only clients with growth, aggressive, or balanced risk profiles to access full functionalities of their precious metals wallet [5] Group 3: Investor Guidance - Agricultural Bank of China has recommended that investors participate in business activities rationally and enhance their risk awareness [7]

北京商报讯2月2日，农业银行发布提示，近期国内外贵金属市场价格波动剧烈，不确定性因素显著增 强。特别提示各位客户审慎评估自身风险承受能力，综合考虑自身财务状况开展贵金属交易业务，保持 理性投资心态。请各位客户密切关注行情变化，合理控制持仓规模，有效防范市场波动风险。 （文章来源：北京商报） 同日，农业银行发布公告称，根据《上海黄金交易所风险控制管理办法》的有关规定，对金市通（金交 所代理）业务白银合约涨跌停板进行调整。若2026年2月2日（星期一）Ag(T+D）合约出现单边市情 况，则下一交易日起，该合约涨跌幅度限制从19%调整为25%。相关合约涨跌幅度限制的后续调整，将 另行通知。农业银行表示，请客户注意合约涨跌幅度限制变化及持仓风险，合理控制持仓规模，理性交 易。 ...

Core Viewpoint - Major Chinese banks, including Industrial and Agricultural Banks, have issued risk warnings regarding precious metal investments due to significant market volatility and price fluctuations, urging investors to assess their risk tolerance and invest rationally [1][4]. Group 1: Risk Warnings and Recommendations - Industrial Bank and Agricultural Bank have reiterated the need for investors to evaluate their financial situations before engaging in precious metal trading, advising against impulsive trading behaviors and emphasizing the importance of monitoring market changes while managing position sizes effectively [4]. - Following a previous warning on February 1, Industrial Bank issued another risk alert shortly after, highlighting the ongoing concerns in the precious metals market [4]. - Other banks, including Bank of Communications, Bank of China, and China Construction Bank, also released similar risk advisories between January 29 and January 30, encouraging rational and reasonable investment practices [6]. Group 2: Risk Management Measures - Several major state-owned banks have implemented stricter risk management measures for precious metal accumulation products, including raising risk ratings and minimum investment amounts to strengthen risk defenses [7]. - Agricultural Bank introduced a new risk assessment mechanism for individual clients starting January 30, requiring a "cautious" rating or above for engaging in gold accumulation services, while existing clients are exempt from these new conditions for certain operations [7]. - Industrial Bank has set even stricter entry standards, requiring clients to achieve a "balanced" rating or above on a unified risk assessment questionnaire and sign a risk disclosure agreement for gold accumulation services [7]. - Since 2025, Industrial Bank has raised the minimum investment threshold for its gold accumulation business multiple times, with the latest increase from 1,000 yuan to 1,100 yuan effective January 8, 2026, compared to an initial threshold of 650 yuan in early 2025 [7]. Group 3: Business Rule Adjustments - Industrial Bank announced adjustments to its business rules, implementing dynamic limit management for gold accumulation services starting February 7, which will affect daily accumulation/redemption limits and total transaction limits for individual clients on non-trading days [8].

黄金价格近期创造历史新高后又暴跌，多家银行紧急出手控制风险。北京晚报记者梳理发 现，国有六大行均已发布公告调整黄金相关业务，并提示交易风险。 工商银行 2月1日，工商银行通过公司贵金属业务部"工银金行家"公众号发布风险提示，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。公告建议 客户从中长期视角考虑，坚持分 批分散、适度均衡的原则进行投资配置，同时密切关注行情变化，合理控制持仓规模，有效 防范市场波动风险 。 此前，1月30日，工商银行官网发布公告，自2月7日起，工行对如意金积存业务及浮动报 价类实物黄金产品销售业务的办理时间进行调整；在周末以及法定节假日等非上海黄金交易 所交易日，对如意金积存业务进行限额管理并进行动态设置。 1月5日，工商银行公告，自1月12日起，对个人客户积存金业务风险承受能力等级进行调 整，个人客户办理积存金业务的开户、主动积存或新增定投计划的，需取得C3-平衡型及以 上的评估结果并签订积存金风险揭示书。 1月29日，农业银行发布《关于代理上海黄金交易所个人贵金属交易业务调整延期合约保证 金比例的 ...

| 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 601398 工商银行 | | 3.48亿 | 8.76% | -2.01亿 | -5.07% | -1.46 Z | -3.69% | | 601288 农业银行 | | 2.70 Z | 8.08% | -1.40亿 | -4.20% | -1.30亿 | -3.88% | | 601988 中国银行 | | 8769.26万 | 4.78% | -6503.68万 | -3.55% | -2265.58万 | -1.24% | | 601658 邮储银行 | | 7347.87万 | 6.52% | -4189.83万 | -3.72% | -3158.03万 | -2.80% | | 601328 交通银行 | | 5661.11万 | 3.04% | -1477.08万 | -0.79% | -4184.03万 | -2.24% | | 601939 建设银 ...

Core Insights - The report focuses on the performance of pure fixed-income products issued by wealth management companies, highlighting the best-performing products available for sale through various distribution channels [1][4] Group 1: Product Performance - The ranking of products is based on their annualized returns over the past month, three months, and six months, with a particular emphasis on the three-month annualized yield to reflect their performance amid recent market fluctuations [1] - A total of 28 distribution institutions are involved, including major banks such as Industrial and Commercial Bank of China, Bank of China, Agricultural Bank of China, and others [1] Group 2: Product Availability - The list of products is categorized as "available for sale," but actual availability may vary due to factors such as sold-out quotas or differences in product listings shown to different customers by banks [1] - Investors are advised to refer to the actual displays on the distribution bank's app for the most accurate information regarding product availability [1] Group 3: Data Source - The data presented in the report is sourced from the Nanfang Financial Terminal and Nanfang Wealth Management, with statistics as of January 30 [3][5]

Group 1 - The core viewpoint of the article highlights a significant drop in spot gold prices, which fell over 8% to below $4,470 per ounce, with the Shanghai gold futures contract hitting a limit down of 16% [1] - The sharp fluctuations in precious metal prices are attributed to profit-taking from previous high gains and changes in policy expectations following the nomination of Kevin Walsh as the new Federal Reserve Chairman by Trump [1] - Despite the recent volatility, the long-term trend of global central banks purchasing gold remains unchanged, indicating that the price support for gold is still upward [1] Group 2 - Major state-owned banks in China have adjusted their gold-related business operations and issued risk warnings, with ICBC modifying the processing time and limits for its gold accumulation business [1] - Agricultural Bank of China has raised the margin requirement for gold deferred contracts to 60% and added risk assessment criteria for its gold storage services [1] - Other banks, including Bank of China and China Construction Bank, have also advised investors to pay attention to market fluctuations and manage their positions carefully to avoid impulsive trading [1]