客户抢着买、风控拦着发，黄金理财“冰火”两重天

Core Viewpoint - The demand for gold investment products is increasing due to rising gold prices, but risk control departments are hesitant to approve new product issuances, leading to a conflict between product innovation and risk management teams [2][4][9]. Group 1: Demand for Gold Investment Products - There is a strong demand for gold investment products among residents, driven by the continuous rise in gold prices and geopolitical uncertainties [5][6]. - Financial institutions are receiving requests to increase the issuance of gold-related investment products, as clients are shifting their investments towards gold ETFs and public funds [6][7]. - The expectation of further increases in gold prices is leading to a consensus among global central banks and investors to increase their gold holdings [5][7]. Group 2: Challenges in Product Issuance - Despite the high demand, the issuance of gold investment products is being stalled by risk control departments, which fear potential losses if gold prices decline [2][4][10]. - The number of gold-related investment products has significantly decreased, with only 18 products remaining by the end of 2025, down from 51 in early 2024 [4]. - Risk control concerns are exacerbated by the short duration of these products, which typically last less than one year, making them vulnerable to price fluctuations [11]. Group 3: Divergence Between Teams - There is a fundamental disagreement between the product innovation team, which focuses on market opportunities, and the risk control team, which prioritizes risk avoidance [4][10]. - The product innovation team has attempted to present data supporting the continued rise in gold prices to alleviate risk concerns, but has faced resistance [9][10]. - The conflict between the two teams reflects a broader challenge in the financial industry regarding product innovation and risk management [4].