Zhong Guo Ji Jin Bao·2025-05-01 06:06Core Viewpoint - China Merchants Bank (CMB) has announced an increase in the minimum subscription amount for its gold account from 800 RMB to 1000 RMB, marking the fourth adjustment this year and the largest increase to date [2][6]. Group 1: Adjustments to Gold Account Subscription - The new minimum subscription amount will take effect on May 8, 2025, with a 25% increase from the previous amount [2]. - CMB's previous adjustments included raising the subscription amount from 650 RMB to 700 RMB on February 24, then to 750 RMB on March 27, and finally to 800 RMB on April 21 [7][9]. - Existing investment plans set before the adjustment will remain unaffected, but new plans must meet the updated minimum requirement [5]. Group 2: Market Context and Price Trends - The international gold price has been experiencing fluctuations, recently dropping below 3300 USD per ounce on April 30, with further declines noted on May 1 [2][12]. - Domestic gold jewelry prices have also shown volatility, with major brands like Chow Tai Fook and Lao Feng Xiang pricing around 1000 RMB per gram [14]. - Other banks have similarly raised their gold investment thresholds, with Everbright Bank increasing its minimum to 1000 RMB and Bank of China adjusting to 850 RMB [10][11]. Group 3: Industry Insights and Future Outlook - Analysts suggest that the recent adjustments in subscription thresholds are a response to significant gold price volatility and regulatory requirements [10]. - Despite short-term fluctuations, some analysts maintain a bullish long-term outlook for gold, citing ongoing geopolitical risks and potential economic downturns as factors that could drive demand [16][17].