China National Gold (SH:600916) 证券时报·2026-02-08 00:09Core Viewpoint - The article discusses the recent adjustments in precious metal repurchase policies by China Gold and other leading gold retailers due to significant fluctuations in gold prices and increasing market uncertainties [1][3]. Group 1: Company Actions - China Gold announced the suspension of its precious metal repurchase business during non-trading days starting February 7, 2026, to enhance risk management and operational efficiency [1]. - Other companies, such as Caibai Co., also announced similar adjustments to their repurchase policies, including limits on repurchase amounts during operational hours [3]. Group 2: Market Trends - The gold market has experienced notable volatility, with the latest price of gold T+D at 1111 RMB per gram, reflecting a 2.97% increase from the previous trading day, but down 11.47% from a recent high of 1255 RMB per gram [1]. - China Gold's stock price saw significant fluctuations, peaking at 14.85 RMB per share on January 30, 2023, a 77.21% increase from 8.38 RMB per share on January 22, but subsequently fell by 23.1% to 11.42 RMB per share by February 6 [2]. Group 3: Economic Insights - Analysts from CITIC Futures suggest that the current bull market in precious metals is primarily driven by a contraction in dollar credit, indicating a shift in gold's pricing mechanism from interest rate assets to physical currency [4]. - The report highlights that the ongoing rise in debt levels in developed countries and the strengthening trend of de-globalization are contributing to increased demand for gold as a safe-haven asset [4].