Nan Fang Du Shi Bao·2026-01-29 23:11Core Insights - The price of spot gold has surged, breaking the $5,500 per ounce mark, continuing its upward trend [2] - Banks are adjusting their gold accumulation business, with some lowering interest rates to 0% for demand deposits and increasing minimum investment amounts [3][4] - Experts emphasize that gold should be viewed as a risk hedge rather than a speculative investment tool [6] Summary by Category Gold Price Movement - As of January 29, 2026, spot gold reached a peak of $5,598.75 per ounce, marking a significant increase of nearly 30% since the beginning of the year [5][6] - The price has consistently broken through key levels, including $5,000, $5,100, $5,200, $5,300, and $5,400 in a short span [5] Bank Adjustments - Ningbo Bank announced changes to its gold accumulation product interest rates, with demand deposit rates dropping to 0% and various term rates adjusted [3] - Ping An Bank also revised its rates, with demand deposit rates set at 0.01% and term deposits adjusted accordingly [4] - Other banks, including Agricultural Bank and Industrial and Commercial Bank, have implemented similar measures, requiring risk assessment for clients engaging in gold accumulation [5] Investment Guidance - Experts advise that gold should serve as a "ballast" and "insurance" in asset allocation, primarily to hedge against extreme risks and stabilize overall portfolio volatility [6] - New investors are cautioned against treating gold as a means for quick wealth accumulation and are encouraged to adopt a disciplined investment approach, such as regular fixed investments [6]