2 1 Shi Ji Jing Ji Bao Dao·2026-02-26 14:17Core Viewpoint - Major Chinese banks, including Industrial and Agricultural Banks, have raised the margin requirement for personal precious metals deferred business from 80% to 100% in response to increased market volatility and rising personal investment interest in precious metals [1][4]. Group 1: Market Conditions - International precious metal prices have been fluctuating at high levels, with London spot gold reaching $5,205.472 per ounce on February 26 [1]. - The domestic futures market for gold and silver also opened significantly higher on the first trading day of the Year of the Horse, indicating a continued rise in market sentiment [1]. Group 2: Bank Actions - Agricultural Bank announced the margin increase effective from February 26, citing heightened market risks associated with personal trading in precious metals [1]. - Industrial Bank followed suit, implementing the same margin adjustment for various gold and silver contracts starting February 27 [4]. Group 3: Contract Types - The contracts affected include Au (T+D), mAu (T+D), Ag (T+D), and others, which represent different types of deferred trading products for gold and silver [7][8]. - The adjustment in margin requirements is expected to reduce leverage in trading, promoting more rational investment behavior among clients [8]. Group 4: Historical Price Trends - Since 2025, precious metal prices, particularly gold, have surged, with a nearly 65% increase in the annual price of London gold [8]. - In 2026, gold prices continued to rise, surpassing $5,500 per ounce, attracting a large number of personal investors and amplifying market risks [8]. Group 5: Industry Response - Prior to the margin increase, several banks had begun to tighten their personal precious metal trading operations, with some banks announcing the closure of related business functions [9]. - For instance, Postal Savings Bank announced the cessation of its personal precious metal business effective January 12, 2026 [9].