ICBC(SH:601398) Xin Hua Wang·2025-08-12 06:25Core Viewpoint - The recent volatility in global commodity prices, particularly in precious metals, has prompted banks to tighten their operations in this sector to protect individual investors and manage risk exposure [1][2][3]. Group 1: Market Conditions - The Shanghai Gold Exchange has noted significant fluctuations in global commodity prices due to international factors, leading to increased market risks [1]. - The international gold price has recently dropped to a new low for the year, impacting the domestic gold investment market [3][4]. Group 2: Bank Responses - Several commercial banks, including Industrial and Commercial Bank of China (ICBC), have raised margin requirements for various gold contracts, with ICBC increasing the margin for Au (T+D) from 34% to 42% and for Ag (T+D) from 38% to 46% [2][3]. - ICBC announced a suspension of new positions in personal gold deferred contracts and buying transactions for physical gold starting August 15, 2023, due to heightened market risks [2][3]. Group 3: Regulatory Environment - The tightening of personal precious metal business by banks is seen as a response to regulatory requirements aimed at protecting individual investors and reducing leverage risks [4][5]. - The trend of banks adjusting their precious metal trading operations is not new, with similar measures taken during previous periods of market instability, such as at the end of 2020 [4]. Group 4: Investor Guidance - Analysts recommend that investors recognize the current complex macroeconomic environment and high investment risks, suggesting they control their investment scale and explore lower-risk alternative investment channels [5].