中国黄金回购新规今起实施，周末不能卖金了？

Core Viewpoint - The recent changes in gold buyback policies by major companies in China, including China Gold Group and Caibai Jewelry, are significantly impacting investors' ability to liquidate their gold investments, particularly during weekends and holidays [1][3]. Group 1: Policy Changes - China Gold Group announced that starting February 7, all offline and online gold buyback services will be adjusted, with buyback operations suspended on weekends and public holidays [1]. - Caibai Jewelry also issued a similar announcement on February 2, halting buyback services on non-trading days and implementing dynamic limits on buyback amounts [3]. - Industrial and Commercial Bank of China (ICBC) announced on January 30 that it would implement limit management for its gold accumulation business starting February 7 [3]. Group 2: Market Reactions - The spot gold price experienced a significant drop of over 2% on February 6, followed by a rebound that pushed it above $4,950 per ounce, marking a nearly 4% increase in a single day [3]. - Year-to-date, international gold prices have risen by nearly 15% [3]. - A surge in customer traffic was observed at Caibai's buyback counters, with queues reaching nearly 200 people, indicating high demand for gold liquidation [3]. Group 3: Buyback Pricing and Costs - China Gold's buyback price is approximately 2 yuan per gram lower than the daily price set by the Shanghai Gold Exchange for its branded gold bars, while non-China Gold products incur a deduction of 5 yuan per gram [5]. - Caibai's buyback standard deducts 3.8 yuan per gram for investment gold bars and 5 yuan per gram for gold jewelry or ornaments [5]. - The purchase of investment gold bars from China Gold incurs an additional fee of 8 yuan per gram, meaning gold prices must rise by more than 10 yuan for investors to recover their costs [5]. Group 4: Market Dynamics and Consumer Behavior - As of January 2026, China's gold reserves stood at 74.19 million ounces, reflecting an increase of 40,000 ounces from the previous month, marking the 15th consecutive month of gold accumulation by the central bank [5]. - Consumers are increasingly cautious, with many comparing prices across different counters and considering the costs associated with gold purchases and sales [5][7]. - The gold buyback market is becoming more complex, with limited channels for non-China Gold products and higher depreciation fees imposed by some gold investment companies [7]. Group 5: Regulatory and Industry Standards - The China Gold Association has previously released standards to regulate the gold recycling market, aiming to enhance service quality and consumer protection [9]. - The recent announcements from China Gold Group emphasize the need for consumers to rationally assess market fluctuations and enhance risk awareness [9].