Zhong Guo Zheng Quan Bao·2025-11-13 20:02Core Viewpoint - The recent surge in gold prices, exceeding $4200 per ounce with a year-to-date increase of over 60%, has prompted banks to adjust their gold accumulation business rules, reflecting a cautious risk management approach in the industry [1][2]. Bank Adjustments to Gold Accumulation Business - On November 11, China CITIC Bank announced an increase in the minimum investment amount for its gold accumulation plan from 1000 yuan to 1500 yuan, effective November 15 [1]. - This adjustment follows similar moves by other banks, such as Industrial and Commercial Bank of China raising its minimum investment from 850 yuan to 1000 yuan on October 13, and Industrial Bank increasing its minimum purchase amount from 1000 yuan to 1200 yuan on October 21 [1]. Redemption Rules and Risk Management - China Construction Bank introduced a "large redemption" rule on November 11, stating that if total net redemption requests exceed 20% of the bank's total gold accumulation balance, it may refuse the excess requests [2]. - Continuous large redemptions over two trading days may lead to a suspension of redemption transactions, aimed at filtering clients with stronger risk tolerance and mitigating liquidity risks during market volatility [2]. Investor Participation and Market Trends - As of November 13, banks reported a significant interest in gold accumulation products, with many clients inquiring about fees and the process for redeeming physical gold [2]. - The recent tax policy changes regarding gold transactions have made gold investment products, such as gold accumulation accounts and ETFs, more attractive due to their convenience and transparency [3]. Asset Allocation Recommendations - Experts suggest that investors should recognize the correlation between the recent rise in gold prices and the weakening of the US dollar, and monitor related factors [3]. - While long-term support for gold prices exists, short-term volatility is expected, and investors are advised to diversify their asset allocation to mitigate risks associated with concentrated investments in gold [3][4].