Core Viewpoint - The Industrial and Commercial Bank of China (ICBC) has abruptly ceased its gold trading services, citing risk management concerns amid soaring gold prices, effectively locking out retail investors from the market [1][2] Group 1: Company Actions - ICBC announced the termination of its gold trading services on December 15, stating "not playing anymore, clearing the field" [1] - The bank executed an automatic refund of balances to customer accounts and shut down trading channels without prior warning [1] - The decision was made to mitigate potential risks associated with volatile gold prices, as the bank aimed to avoid significant losses [1] Group 2: Market Reactions - Retail investors expressed frustration and confusion as they found their accounts cleared without notice, leading to a surge of complaints in online forums [2] - Some experienced investors acknowledged the bank's decision as a necessary precaution, recalling past incidents where investors faced severe losses [1] - The overall sentiment in the market indicated a divide between panic among retail investors and a more cautious, pragmatic view from seasoned traders [1][2]
工行清退“三无”客户