Sou Hu Cai Jing·2026-02-02 03:51Market Overview - On February 2, 2026, London spot gold opened at $4685.99 per ounce, down over 4.2%, with a daily low of $4583.077 per ounce. London spot silver opened at $82.887 per ounce, down over 2.7% [1][2][3] - Domestic precious metal futures prices opened lower, with Shanghai silver futures hitting the limit down, Shanghai gold futures down over 10%, platinum futures limit down, and palladium futures down over 15% [3][4] Price Adjustments - The Shanghai Gold Exchange announced adjustments to the margin levels and price limits for silver contracts due to significant price volatility. If a one-sided market occurs, the margin level will increase from 20% to 26%, and the price limit will change from 19% to 25% [4] - Domestic brand gold jewelry prices have adjusted downwards, with Chow Sang Sang's gold jewelry reported at ¥1484 per gram, down from ¥1618 per gram [5][6] Consumer Behavior and Refund Policies - Sales personnel at gold brand counters have stated that returns will not be accepted due to price drops, with a standard deduction of ¥500 for any return [7] - Online return policies vary, with most platforms not accepting returns for investment gold products. Some brands allow returns within 24-48 hours under specific conditions, while others charge a fee of 1%-5% for returns [9][11][12] Risk Management by Financial Institutions - Several banks, including ICBC, ABC, BOC, and CCB, have issued announcements adjusting their gold accumulation business and providing risk warnings due to significant price fluctuations in precious metals [17][19][22][26] - ICBC has raised the minimum purchase amount for gold accumulation from ¥1000 to ¥1100 and adjusted business rules for gold accumulation starting February 7 [20][21]