Zhong Guo Zheng Quan Bao·2025-11-13 22:20Core Viewpoint - Gold prices have entered an upward trend, with spot gold prices exceeding $4200 per ounce and a year-to-date increase of over 60%, prompting banks to adjust their gold accumulation business rules to manage risks more prudently [1][3]. Group 1: Bank Adjustments - Citic Bank announced an increase in the minimum investment amount for its gold accumulation plan from 1000 yuan to 1500 yuan, effective November 15 [2]. - Industrial and Commercial Bank of China raised the minimum investment for its gold accumulation business from 850 yuan to 1000 yuan starting October 13 [2]. - Xingye Bank adjusted its minimum purchase amount for gold accumulation from 1000 yuan to 1200 yuan on October 21 [2]. - Construction Bank implemented a "large redemption" rule, where if total customer redemption requests exceed 20% of the bank's total gold accumulation balance, it may refuse excess redemption requests [2]. Group 2: Market Participation - Investors have shown strong interest in gold accumulation products due to the rising gold prices, with many inquiries focused on fees and the process for redeeming physical gold [4]. - A recent announcement from the Ministry of Finance and the State Administration of Taxation clarified tax policies on gold transactions, distinguishing between on-exchange and off-exchange transactions, which affects the cost of holding and trading gold [4]. Group 3: Investment Strategies - Experts suggest that investors should recognize the correlation between the recent rise in gold prices and the weakening of the US dollar, and should monitor dollar trends and related factors [5]. - Despite the long-term support for gold prices from safe-haven demand and central bank purchases, short-term volatility is expected due to crowded long positions in the market [5]. - Investors are advised to diversify their asset allocation to mitigate risks and avoid concentrating solely on the gold market [5].