21世纪经济报道·2026-01-28 11:53Core Viewpoint - The article discusses the significant rise in gold and silver prices, with gold surpassing $5300 per ounce and silver reaching $117 per ounce, indicating a volatile market environment and prompting regulatory adjustments to manage risks [1][5]. Price Movements - On January 28, gold prices surged over $120 in a single day, marking a historical high of $5300 per ounce, while silver peaked at $117 per ounce before retracting slightly [1]. - In less than a month, gold and silver prices increased by 22% and 57%, respectively, highlighting substantial market volatility [5]. Regulatory Adjustments - The Shanghai Futures Exchange and Shanghai Gold Exchange announced adjustments to the price fluctuation limits and margin requirements for gold and silver trading, effective January 30, 2026, to enhance risk management [4]. - The margin requirements for gold futures contracts were raised to 18% for general positions and 17% for hedged positions, while silver futures saw similar adjustments [4]. Fund Activity - On January 27, several gold and silver-themed funds announced a suspension of new subscriptions, including the E Fund Gold LOF and Guotai Junan Silver LOF, effective January 28 [7]. - Following the suspension, the Guotai Junan Silver LOF experienced a 10% increase in its market price, with a trading volume exceeding 28 billion yuan and a premium rate of over 49.59% [8]. - The E Fund Gold LOF also saw a significant rise, with a 7.22% increase in its market price on January 28 [10]. Banking Sector Response - Major banks, including Agricultural Bank and Industrial and Commercial Bank, have raised the risk assessment requirements for gold accumulation products, necessitating higher risk tolerance evaluations for customers starting January 30, 2026 [12][15]. - These adjustments are aimed at protecting investors amid rising gold prices and increased market volatility, reflecting a proactive approach to risk management by banks [16].