在全球金融数字化转型与货币形态重构的博弈关键期，中国法定数字货币迎来里程碑式突破。 2026年1月1日，数字人民币计息机制正式落地，标志着中国版央行数字货币完成从"数字现金"到"数字存款"的质变， 以制度创新开启2.0时代新征程。 这一变革的背后，是顶层设计的精准谋篇。2025年12月29日，中国人民银行（下称"央行"）党委委员、副行长陆磊在 《金融时报》发表署名文章，明确《关于进一步加强数字人民币管理服务体系和相关金融基础设施建设的行动方案》 （下称《行动方案》）于2026年1月1日正式实施。 "数字人民币有利息了。"李女士在数字人民币App方寸之间，所看到的0.05%利息，却是数字人民币的历史性记录。 新一代计量框架、管理体系、运行机制与生态体系同步启动，为数字人民币的功能升级筑牢制度根基。 《行动方案》的核心突破，在于重塑数字人民币的价值属性。方案明确银行机构需为客户实名数字人民币钱包余额计 付利息，并遵守存款利率定价自律约定。这一安排不仅让商业银行可自主开展数字人民币钱包余额的资产负债经营管 理，更通过存款保险制度，为其赋予与传统存款同等的安全保障，彻底改变了此前数字人民币的功能局限。 "客户在商业银 ...

作者 | 第一财经 安卓 2月2日，黄金、白银价格继续剧烈波动。截至记者发稿，现货黄金跌6.80%，报4562美元/盎司；现货白银跌11.46%，早间曾一度转涨，但随后又大 幅下挫，报75.49美元/盎司。 第一财经发现，随着黄金、白银价格持续大幅下挫，人们投资实物黄金的热情有所松动，部分投资者选择观望，此前日日被抢断货的银行金条也出现了 库存，部分银行的实物金条甚至显示为"库存充足"状态。 2026.02. 02 本文字数：2352，阅读时长大约4分钟 投资情绪降温 今年1月，贵金属经历了历史罕见的上涨行情。去年12月底至1月28日，市场对美联储的独立性担忧、地缘风险中枢上行及弱美元预期等，直接催化 COMEX黄金期货于1月29日突破5600美元/盎司，月内最高涨幅超过29%，COMEX白银期货突破120美元/盎司，月内最高涨幅甚至达到72%，不断 刷新历史。 1月30日，黄金、白银价格同步上演"高台跳水"，其中，COMEX黄金期货跌8.35%报4907.50美元/盎司，COMEX白银期货跌25.50%报85.25美元/ 盎司。 业内普遍认为，本次黄金"巨震"，直接原因或是美国总统特朗普提名凯文·沃什为新任 ...

Core Viewpoint - Recent significant fluctuations in gold prices have prompted major state-owned banks in China to adjust their precious metals business rules and issue market risk warnings to enhance investor risk management [1] Group 1: Bank Adjustments - Industrial and Commercial Bank of China (ICBC) has raised the minimum purchase amount for gold accumulation from 1,000 yuan to 1,100 yuan and restricted the accumulation business to C3 balanced clients and above starting from January 12 [2] - China Construction Bank has increased the minimum investment amount for its gold accumulation products to 1,500 yuan, effective from February 2, with plans for future adjustments based on market conditions [3] - Agricultural Bank of China has introduced a requirement for clients to complete a unified risk assessment before engaging in gold accumulation operations, effective from January 30 [6] Group 2: Risk Management Measures - ICBC has advised investors to rationally invest based on their risk tolerance and to control their positions to mitigate volatility risks [2] - China Bank has issued a risk warning regarding all types of precious metal businesses, urging clients to manage their holdings according to their financial situation and risk tolerance [4] - Bank of Communications has tightened client risk level requirements, allowing only clients with growth, aggressive, or balanced risk profiles to access full functionalities of their precious metals wallet [5] Group 3: Investor Guidance - Agricultural Bank of China has recommended that investors participate in business activities rationally and enhance their risk awareness [7]

Core Viewpoint - Recent fluctuations in gold and precious metal prices have prompted China Merchants Bank to adjust its gold trading business, increasing margin requirements for various gold contracts [1][2]. Group 1: Margin Adjustments - Starting from February 2, 2026, the margin ratio for Au(T+D), mAu(T+D), Au(T+N1), Au(T+N2), NYAuTN06, and NYAuTN12 contracts will be raised from 60% to 70%, while the price fluctuation limit remains at 15% [1]. - The margin level for Ag(T+D) contracts will also increase from 60% to 70% on the same date, with potential adjustments to the price fluctuation limit depending on market conditions [1]. Group 2: Previous Adjustments - Prior to this announcement, on January 30, 2026, China Merchants Bank had already raised the margin ratios for the same gold contracts from 49% to 60%, while the Ag(T+D) margin increased from 48% to 60% [2]. Group 3: Market Context - Other banks, including Agricultural Bank and Postal Savings Bank, have also adjusted their margin requirements for gold contracts in response to recent market volatility [4]. - Significant price fluctuations were noted, with gold prices rising from $5,200 to $5,600 per ounce between January 28 and 29, 2026, followed by a sharp decline, including a nearly 13% drop on January 31, marking the largest single-day drop in nearly 40 years [4][5]. - As of February 2, 2026, gold was priced at $4,692.54 per ounce, reflecting a 4.14% decline, while silver was at $81.38 per ounce, down 4.55% [5]. Group 4: Future Outlook - Despite recent declines, long-term bullish sentiment on gold remains, with expectations that U.S. inflation may decline in the second half of 2026, potentially leading to further support for gold prices [5].

Core Viewpoint - Agricultural Bank of China has issued a warning regarding the significant volatility in domestic and international precious metal markets, urging clients to assess their risk tolerance and maintain a rational investment mindset [1]. Group 1: Market Conditions - The recent fluctuations in precious metal prices have increased uncertainty, prompting the bank to advise clients to closely monitor market changes and manage their positions effectively [1]. - The bank has highlighted the importance of understanding one's financial situation before engaging in precious metal trading [1]. Group 2: Regulatory Adjustments - Agricultural Bank announced adjustments to the price fluctuation limits for silver contracts under its Gold Market Access (Gold Exchange Agency) business, in accordance with the Shanghai Gold Exchange's risk control management regulations [1]. - Starting February 2, 2026, if the Ag(T+D) contract experiences a one-sided market condition, the price fluctuation limit will be increased from 19% to 25% [1]. - The bank will provide further notifications regarding any subsequent adjustments to the fluctuation limits [1].

Core Viewpoint - The global precious metals market has experienced significant volatility, prompting banks to issue risk warnings and adjust business rules to protect investors [1][3][11]. Group 1: Market Volatility - On January 30, COMEX gold futures fell by 8.35%, while silver futures dropped by 25.50%, marking unprecedented fluctuations [1]. - On February 2, COMEX gold futures saw a decline of over 6% at one point, and silver futures dropped over 9%, although the losses later narrowed [1]. - The domestic commodity futures market closed with widespread limit downs on February 2, affecting various metals and oil contracts [1]. Group 2: Bank Responses - Multiple banks, including Agricultural Bank of China, issued risk warnings to investors, advising them to assess their risk tolerance and maintain a rational investment mindset [3][8]. - Agricultural Bank has implemented stricter risk control measures, requiring clients to complete a unified risk assessment before engaging in gold accumulation services [5][6]. - China Construction Bank and Postal Savings Bank also issued similar warnings, emphasizing the need for cautious investment and risk management [6][8]. Group 3: Regulatory Adjustments - Banks like China Merchants Bank have adjusted margin requirements for precious metal contracts in response to increased market volatility, raising the margin ratio from 60% to 70% for certain contracts [10]. - The adjustments aim to mitigate market risks and protect investor interests amid the heightened volatility [10]. Group 4: Market Outlook - Analysts expect that the volatility in precious metal prices will remain high, driven by macroeconomic signals and geopolitical events [11][12]. - Despite the recent sharp declines, the long-term fundamentals supporting precious metals, such as geopolitical tensions and the restructuring of the global credit system, remain intact [12][13].

Core Insights - The recent volatility in gold prices has led to a surge in consumer interest in buying and selling gold, particularly at the Cai Bai store in Beijing, which serves as a barometer for gold consumption in the city [1][14] - On February 2, the international spot gold price dropped below $4,450 per ounce, marking a new low since January 8, with a decline of over $430 from the day's peak [2][16] - The demand for gold repurchase is high, with many customers exchanging old jewelry for new items or selling gold to pay off mortgages [2][20] Consumer Behavior - The Cai Bai store has seen a significant increase in foot traffic, with crowded scenes at gold jewelry counters and repurchase windows [1][14] - A customer reported exchanging a gold necklace for a new one at a price lower than the market rate, indicating a trend of consumers capitalizing on current gold prices [2][20] - Many individuals are looking to liquidate their gold holdings, with one customer planning to use the proceeds to help pay off her child's mortgage [20] Investment Trends - The investment in gold bars is particularly popular among younger consumers, with one individual planning to purchase 450 grams of gold this year, significantly more than previous years [12][25] - A new policy requires full payment for investment products within one hour of issuing a sales receipt, reflecting the increased demand and the need to maintain transaction order [12][25] - Banks are experiencing a shortage of physical gold bars, with many products sold out since January 30, indicating a supply chain strain in the gold market [13][26]

Core Insights - The recent surge in gold prices has led to a significant increase in consumer interest and transactions in gold, particularly at the Cai Bai store in Beijing, which serves as a barometer for gold consumption in the city [1][2]. Group 1: Consumer Behavior - There has been a notable increase in foot traffic at gold stores, with the investment gold bar sales area being particularly popular [1]. - The international gold price has experienced volatility, recently dropping below $4,450 per ounce, marking a decline of over $430 from its daily high [2]. - Many consumers are opting to sell their gold, with some using the proceeds to pay off mortgages, indicating a shift in consumer sentiment towards liquidating gold assets [3][4]. Group 2: Investment Trends - The investment in gold bars is on the rise, with younger investors purchasing larger quantities, such as 450 grams at once, reflecting a growing trend towards gold as a stable investment [5][6]. - The demand for physical gold has led to a shortage of gold bars at several banks, with many products sold out since January 30, indicating a supply chain strain in the gold market [7].

1月30日，黄金、白银价格同步上演"高台跳水"，其中，COMEX黄金期货跌8.35%报4907.50美元/盎司，COMEX白银期货跌25.50%报85.25美元/盎司。 业内普遍认为，本次黄金"巨震"，直接原因或是美国总统特朗普提名凯文·沃什为新任美联储主席，导致"独立性危机"担忧降温，美元反弹。 2月2日，黄金、白银价格继续剧烈波动。截至记者发稿，现货黄金跌6.80%，报4562美元/盎司；现货白银跌11.46%，早间曾一度转涨，但随后又大幅下挫， 报75.49美元/盎司。 第一财经发现，随着黄金、白银价格持续大幅下挫，人们投资实物黄金的热情有所松动，部分投资者选择观望，此前日日被抢断货的银行金条也出现了库 存，部分银行的实物金条甚至显示为"库存充足"状态。 投资情绪降温 今年1月，贵金属经历了历史罕见的上涨行情。去年12月底至1月28日，市场对美联储的独立性担忧、地缘风险中枢上行及弱美元预期等，直接催化COMEX 黄金期货于1月29日突破5600美元/盎司，月内最高涨幅超过29%，COMEX白银期货突破120美元/盎司，月内最高涨幅甚至达到72%，不断刷新历史。 2月2日，黄金、白银价格继续下探，投资者情 ...

本期，南财理财通重点关注最低持有期人民币公募产品的业绩表现，按照90天、180天、365天持有期限分类对产品业绩进行排 名，业绩指标采用年化收益率，计算区间与持有期限相同，如90天持有期产品的业绩计算区间为近三月年化收益率，同机构同 系列同投资周期产品保留一只参与排名。 统计代销机构（28家）：工商银行、中国银行、农业银行、邮储银行（601658）、建设银行、交通银行、招商银行、中信银 行、光大银行、民生银行、兴业银行、浦发银行、广发银行、浙商银行（601916）、华夏银行、平安银行、恒丰银行、渤海银 行、北京银行、宁波银行、江苏银行（600919）、上海银行（601229）、南京银行、杭州银行（600926）、徽商银行、微众银 行、网商银行、百信银行。 需要特别提醒的是：本榜单对理财产品"在售"状态的判断基于其投资周期推算。但实际情况中，部分产品可能因额度售罄，或 银行针对不同客户展示的产品清单存在差异而无法购买。因此，建议投资者以代销银行APP的实际展示为准。 此外，南财理财通虽力求客观公正，但不对本评价榜信息的真实性、完整性和准确性作任何保证，排名信息仅供参考。 | | ZYHC24 | 幸福99卓越混 ...