Jing Ji Wang·2025-11-11 05:56Core Viewpoint - The implementation of new tax regulations on gold has not significantly impacted the supply and pricing of investment gold in Shanghai, with banks reporting stable prices and sufficient supply for customers [1][3][4]. Pricing Stability - The new regulations do not affect the sales prices for end customers, as banks continue to set prices based on market conditions [3][4]. - The regulations classify gold into investment and non-investment categories, with investment gold purchased from banks being minimally affected [3][4]. - Banks can issue special VAT invoices, allowing them to offset VAT costs, resulting in no additional costs for consumers [3][4]. Supply Adequacy - Banks report that the supply of investment gold is stable and sufficient to meet customer demand [4]. - Both Construction Bank and Industrial and Commercial Bank confirm that they have adequate inventory and can fulfill regular purchases [4]. - There has been a slight increase in customer inquiries and purchases since the new regulations were implemented, but the overall market remains stable [4]. Convenience of Gold Accumulation - The process for withdrawing physical gold from accumulation accounts is reported to be convenient, with no restrictions on customers [5][6]. - Customers can easily request physical gold through mobile banking, with various specifications available [6]. - The new regulations encourage investment in gold through bank products and ETFs, as accumulation gold is classified as a financial instrument and is not subject to physical delivery tax [6].