投资者小京在社交平台发帖表示，她在2025年初用9.3万元人民币兑换了1.27万美元，并分两笔购买了某 股份制银行的一年期美元定期存款。当时，1万美元的存款执行的是3.7%的利率，2700美元的存款执行 的是3.4%的利率。近期，这两笔美元存款到期，她获得了1.32万美元，结汇成人民币相当于9.1万元。 存款一年下来，亏损了人民币两千元左右。 在社交平台上，小京的经历并不是个例。最近一些投资者反映，在购买美元存款过程中亏了钱。上海金 融与发展实验室首席专家、主任曾刚表示，美元汇率波动造成的损失超过了美元存款利息收益，叠加汇 兑成本等，最终导致投资者整体收益亏损。曾刚解释道，投资者在2025年初购汇时，人民币对美元汇率 在7.2元-7.4元区间运行。而近期美元存款到期结汇时，人民币对美元汇率运行在7.0元附近，人民币对 美元汇率升值幅度为3%左右，这一汇率损失基本覆盖了美元存款的利息收益。再加上购汇、结汇环节 的点差与手续费，最终产生亏损。 一年期美元存款利率稳定在3% 当前，美元存款的利率如何？记者走访多家银行发现，一年期美元存款利率基本稳定在3%，低于去年 初4%左右的美元存款利率。而且多家银行的两年期美元 ...

南岸区未成年人救助保护中心负责人表示，中心将持续整合全区公益爱心资源，推出更多贴合未成年人需求的特色活动，扩大"护未暖阳"品牌影响力，为未 成年人健康快乐成长保驾护航。 猜灯谜 春节将至，年味渐浓。为给未成年人搭建社会实践与闲置物品交换流转的趣味平台，2月2日，南岸区未成年人救助保护中心举办"童趣跳蚤集市・平安快乐 同行"迎春游园活动，吸引了南岸区15个街镇的近300组亲子家庭，共同赶赴一场集实践、安全、公益、环保于一体的春节"趣味大集"。 活动现场还设置了烟花爆竹安全宣传区，通过知识问答转盘让孩子们学习安全知识；青少年活动中心的美育课堂上，孩子们认真学习手工制作，感受艺术魅 力；邮储银行、芯迈健康等商家带来的趣味打卡项目，财富储蓄、AI足脊测评等，让孩子们在玩乐中收获知识与成长。 本次活动是南岸区未成年人救助保护中心构建"家校社"协同育人生态圈的重要举措，除了主会场的跳蚤集市和趣味游园之外，未保中心工作人员还来到弹子 石小学卫国路校区为孩子们进行安全过年宣讲。 旋转盘，了解安全燃放烟花爆竹常识 上游财经-重庆晨报记者 杨新宇 摄影报道 ...

Group 1 - International gold prices experienced a significant drop, with spot gold falling by 10% to $4,402 per ounce, marking a new low since January 8, and a three-day decline exceeding 20% [1] - Spot silver prices also plummeted over 16% to $71.31 per ounce, with a three-day drop reaching 40%, nearly erasing January's gains [1] - The recent decline in precious metals was triggered by the nomination of Kevin Warsh as the next Federal Reserve Chairman, leading to a reassessment of the outlook for the dollar and dollar assets [1][2] Group 2 - Cathie Wood, a prominent fund manager, suggested that gold prices are nearing a peak, indicating a potential bubble, and highlighted the historical correlation between a strong dollar and falling gold prices [2] - Robin Brooks, a senior researcher, warned that the recent gold bubble was primarily driven by retail purchases, similar to previous market bubbles [4] - The surge in gold prices has led to increased consumer activity, with many individuals rushing to sell gold for cash, reflecting a shift in market sentiment [5][6] Group 3 - Major banks, including China Merchants Bank and Postal Savings Bank, have issued risk warnings regarding the volatility in precious metal prices, adjusting margin requirements for gold and silver trading [9][11] - The "Zhaocai Gold" business of China Merchants Bank, which facilitates individual participation in gold trading, has seen adjustments in its operations due to market fluctuations [11] - Analysts predict that gold prices will experience significant volatility in the short term, advising investors to wait for market stabilization before making new investments [13][14]

Group 1 - In January, 11 A-share listed banks were surveyed by 373 institutions, with a total of 49 survey instances, focusing on credit issuance, net interest margin, asset quality trends, and bond investment strategies during the peak marketing season [1] - The surveyed banks include Nanjing Bank, Ningbo Bank, Shanghai Bank, Hangzhou Bank, Suzhou Bank, Qingdao Bank, Qilu Bank, Xiamen Bank, Hu Nong Bank, Qing Nong Bank, and Zijin Bank, with six banks experiencing stock price increases, led by Qingdao Bank with over 16% growth [2] - Nanjing Bank was the most favored by institutions, receiving 76 surveys, while Shanghai Bank received 75 surveys, indicating strong interest in their credit issuance during the marketing peak [2] Group 2 - The focus of the credit issuance during the peak marketing season is on corporate credit, with banks reporting better performance compared to the same period in 2025, emphasizing manufacturing, infrastructure, and green transformation projects [2][3] - Shanghai Bank anticipates a continued decline in the Loan Prime Rate (LPR) in 2026, which may lead to a slight decrease in net interest margin due to competitive market factors [4] - Qilu Bank aims to stabilize its net interest margin by optimizing asset management and expanding low-cost deposits while managing liabilities effectively [4] Group 3 - The overall pressure on net interest margin for listed banks is expected to ease in 2026, with a narrowing decline anticipated, supported by improvements in funding costs [5] - Shanghai Bank predicts that bond yields will continue to fluctuate within a range in 2026, with low likelihood of a trend reversal [5] - Hu Nong Bank plans to focus on bond investments primarily for allocation, while also employing advanced technologies for trading and risk management [6]

Core Viewpoint - The recent volatility in gold prices has prompted major state-owned banks in China to adjust their gold-related business practices, enhancing risk management and guiding investors towards rational participation in the market [1][2][4]. Group 1: Adjustments by State-Owned Banks - Major state-owned banks, including ICBC, ABC, BOC, CCB, and others, have implemented changes to their gold-related business, including increasing entry thresholds, transaction limits, and risk assessment requirements [2][4]. - ICBC announced on February 1 that due to significant fluctuations in domestic and international precious metal prices, investors should maintain a rational investment mindset and avoid impulsive trading [2]. - CCB raised the minimum amount for personal gold accumulation to 1,500 yuan starting February 2, citing increased market risks [3]. Group 2: Market Analysis and Long-Term Value - Despite short-term price fluctuations, experts believe that gold and other precious metals still hold long-term investment value due to global risk aversion and changes in asset allocation logic [1][5]. - The precious metals market has shown an upward trend since 2026, with gold and silver performing particularly well, although recent price volatility has raised concerns about future market behavior [5]. - Analysts suggest that while short-term pressures may exist, long-term factors such as declining real interest rates and persistent inflation will continue to support gold prices [5][6]. Group 3: Investor Guidance - Investors are advised to focus on risk management, including understanding market volatility, monetary policy changes, and liquidity risks associated with investment products [6]. - It is emphasized that investors should assess their risk tolerance and avoid excessive leverage, choosing investment tools that align with their financial situations [6].

本文字数：2425，阅读时长大约4分钟 作者 | 第一财经 亓宁 黄金、白银价格暴涨后暴跌价格大涨大跌加速板块轮动，深受避险资金偏爱的银行股又成市场焦点。进入2026年以来，此前涨势如虹的国有大行股价均 有大幅回调，农业银行、工商银行分别跌超12%、8%。 2026.02. 02 从近期表现来看，与国有大行、股份行扛起"护盘"大旗不同，受到业绩快报等消息影响，区域性银行表现明显优于全国性银行，近期多家城农商行宣布 了股东或高管增持计划及进展，也被市场视为重要信号。多位机构人士认为，目前银行板块资金流出高峰已过，配置价值开始显现。 银行股坚定"护盘" 黄金、白银跌势还在持续。面对外回落，但之后短线拉升，一度助力沪指跌幅收窄。全天来看，银行股"护盘"吃力但也较为坚定，在31个申万一级行业 中，食品饮料、银行成唯二飘红板块。 截至当天收盘，沪指跌2.48%，深证成指跌2.69%，创业板指跌2.46%。其中，有色金属以7.62%的跌幅领跌，钢铁、化工、煤炭、石油天然气等资 源周期板块集体重挫，跌幅均在5%以上，半导体板块同样大幅走弱。全市场超4600只个股下跌，成交额约2.61万亿元，较上一交易日缩量近2500亿 元 ...

Core Viewpoint - Recent adjustments by major banks in China, including China Agricultural Bank, China Merchants Bank, and Bank of China, are aimed at mitigating risks associated with significant fluctuations in precious metal prices, emphasizing the need for investors to manage their positions and invest rationally [1][2][5]. Group 1: Bank Adjustments - China Merchants Bank announced an increase in margin requirements for various gold contracts from 60% to 70% due to heightened volatility in precious metal prices, while maintaining a 15% limit on price fluctuations [1]. - Bank of China adjusted the margin for silver deferred contracts from 50.80% to 66.04% and increased the fluctuation limit from 19% to 25% if a unilateral market condition occurs [5]. - Agricultural Bank of China also indicated adjustments to the fluctuation limits for silver contracts, aligning with the Shanghai Gold Exchange's risk management guidelines [7]. Group 2: Market Implications - Industry experts suggest that these measures are intended to tighten risk controls, reduce trading leverage, and increase capital costs for investors, thereby curbing speculative behavior in the market [2][7]. - The adjustments are expected to enhance liquidity during extreme market conditions and reduce the probability of defaults, with other banks likely to follow suit in implementing similar risk management strategies [7]. - Banks are advising investors to carefully assess their risk tolerance and financial situation, urging a rational investment approach and close monitoring of market conditions to mitigate potential losses from price volatility [9][10].

Core Viewpoint - The recent adjustments by several banks in response to significant fluctuations in precious metal prices aim to mitigate market risks and protect investors' interests through increased margin requirements and changes in trading limits [1][2][4][6]. Group 1: Bank Adjustments - China Merchants Bank announced an increase in margin requirements for various gold contracts from 60% to 70% effective February 2, while maintaining a 15% limit on price fluctuations [1]. - The Agricultural Bank of China and other banks are also adjusting their trading parameters for silver contracts, with margin levels rising from 50.80% to 66.04% for certain contracts, depending on market conditions [4][6]. - Postal Savings Bank has issued warnings to investors about the volatility in precious metal prices, urging them to assess their financial situations and manage their investments prudently [10]. Group 2: Market Impact - The adjustments are intended to lower trading leverage for investors, which may help prevent excessive speculation and enhance liquidity during extreme market conditions [2][6]. - If a one-sided market occurs, banks will increase the fluctuation limits for certain contracts, indicating a proactive approach to managing potential market disruptions [4][6]. - The overall trend suggests that other banks are likely to follow suit in implementing similar risk control measures in response to ongoing market volatility [6].

Core Viewpoint - Recent fluctuations in international gold and silver prices have led to significant adjustments in banking operations and risk management strategies to protect investors amid heightened market volatility [1][9]. Group 1: Market Fluctuations - On February 2, gold futures dropped below $4,500 per ounce, with silver prices experiencing a cumulative decline of approximately 40% from the peak on January 29, while gold prices fell by about 20% [1]. - The current market environment reflects a high volatility phase influenced by macroeconomic expectations, technical overbought conditions, and profit-taking by investors [9]. Group 2: Banking Responses - China Merchants Bank announced adjustments to its "Zhaocai Gold" business, increasing margin requirements for various gold and silver contracts from 60% to 70% to mitigate market risks [2]. - The Agricultural Bank of China implemented a risk assessment requirement for clients engaging in gold accumulation services, mandating a cautious risk tolerance rating [7]. - The Bank of China adjusted margin requirements for silver contracts, increasing the margin from 50.80% to 66.04% in case of a one-sided market [7]. Group 3: Investor Guidance - Banks are advising investors to enhance their risk awareness, control their positions, and avoid impulsive trading behaviors in light of the current market uncertainties [3][8]. - Financial institutions are promoting a strategy of maintaining a rational investment mindset, suggesting that investors should consider long-term perspectives and diversify their asset allocations [9].

Macro Dynamics - The Central Committee of the Communist Party of China and the State Council approved the "Modern Capital Metropolitan Area Spatial Coordination Plan (2023-2035)", aiming to cultivate an innovation triangle in the Beijing-Tianjin-Hebei region, enhancing collaboration and resource flow [2] Housing Market - Shanghai has initiated a program to purchase second-hand housing for affordable rental housing, targeting new citizens, young people, and graduates to meet their rental needs [3] - The first batch of housing to be acquired will focus on matching housing types, layout, and transportation convenience to support talent in the city [3] Energy Sector - The China Electricity Council reported that by 2025, the country will add 550 million kilowatts of new power generation capacity, with wind and solar power accounting for 440 million kilowatts, representing 80.2% of the total [4] Financial Institutions - Citigroup warned that gold valuations have reached extreme levels, with global gold expenditure as a percentage of GDP hitting 0.7%, the highest in 55 years, indicating potential risks for gold prices [7] - Deutsche Bank remains bullish on gold, maintaining a target price of $6,000 per ounce despite recent price drops, citing ongoing positive factors for gold investment [8] Market Data - On February 2, A-shares experienced a significant decline, with all three major indices dropping over 2%, and more than 4,600 stocks falling, including 123 hitting the daily limit down [12] - The Hong Kong Hang Seng Index fell by 2.23%, with the technology index down 3.36%, and significant declines in precious metals and semiconductor stocks [13] Company Dynamics - Midea Group announced a share buyback of 26.94 million shares, representing 0.35% of its total share capital, at a total cost of 1.998 billion yuan [17] - Chip-on-Board Technology reported a revenue of 394 million yuan for 2025, a year-on-year increase of 11.52%, but a net profit decrease of 4.91% [18] - GoerTek has repurchased 40.54 million shares, amounting to 1.14% of its total shares, for a total expenditure of 1.108 billion yuan [19] - Microsoft saw a market value drop of $381 billion following disappointing earnings and forecasts, indicating a shift in investor sentiment towards tech stocks [20] - Amazon is expected to report strong fourth-quarter earnings, with analysts predicting over 28% upside potential in the next 12 months [21]