Jin Rong Jie·2026-02-02 08:40Group 1 - The core viewpoint of the article highlights a significant drop in spot gold prices, which fell over 8% to below $4,470 per ounce, with the Shanghai gold futures contract hitting a limit down of 16% [1] - The sharp fluctuations in precious metal prices are attributed to profit-taking from previous high gains and changes in policy expectations following the nomination of Kevin Walsh as the new Federal Reserve Chairman by Trump [1] - Despite the recent volatility, the long-term trend of global central banks purchasing gold remains unchanged, indicating that the price support for gold is still upward [1] Group 2 - Major state-owned banks in China have adjusted their gold-related business operations and issued risk warnings, with ICBC modifying the processing time and limits for its gold accumulation business [1] - Agricultural Bank of China has raised the margin requirement for gold deferred contracts to 60% and added risk assessment criteria for its gold storage services [1] - Other banks, including Bank of China and China Construction Bank, have also advised investors to pay attention to market fluctuations and manage their positions carefully to avoid impulsive trading [1]