Bei Jing Shang Bao·2025-11-03 11:04Core Viewpoint - The recent fluctuations in gold prices have prompted several major banks in China to adjust their gold accumulation business, primarily due to macroeconomic policies, market volatility, and internal risk management requirements [1][2]. Group 1: Bank Adjustments - On November 3, both Industrial and Commercial Bank of China (ICBC) and China Construction Bank (CCB) announced the suspension of certain gold accumulation services, effective immediately [2]. - ICBC's announcement included the suspension of new account openings, active accumulation, and new fixed accumulation plans for its "Ruyi Gold" service, while existing plans remain unaffected [2]. - CCB similarly suspended real-time purchases and exchanges for its "Easy Gold" service, while existing plans and redemptions will continue as normal [2][4]. Group 2: Market Context - Since October, multiple banks have adjusted their gold accumulation services, primarily by increasing the minimum purchase amounts or adopting a "floating price" model based on gold prices [3][4]. - For instance, on October 21, both Industrial Bank and Ping An Bank raised their minimum investment amounts for gold accumulation plans due to significant fluctuations in domestic gold prices [3]. - As of November 3, the London spot gold price was reported at $4016.805 per ounce, having increased over 53% year-to-date, with a peak of $4381 per ounce earlier in the year [4]. Group 3: Risk Management and Investor Education - The adjustments made by banks reflect a cautious approach to risk management in light of the volatile gold market, aligning with regulatory compliance requirements [4][5]. - Financial institutions are tightening business rules and enhancing investor risk education to mitigate the impact of high volatility in gold prices [5][6]. - Banks have issued multiple risk warnings to investors, advising them to be aware of market changes and manage their positions carefully [6][7].