Group 1 - The Shanghai Gold Exchange has announced adjustments to the margin levels and price fluctuation limits for certain contracts, effective from the market close on February 9, 2026 [1] - The margin ratio for contracts Au (T+D), mAu (T+D), Au (T+N1), Au (T+N2), NYAuTN06, and NYAuTN12 will increase from 17% to 18%, while the price fluctuation limit will rise from 16% to 17% [1] - The margin ratio for the Ag (T+D) contract will increase from 23% to 24%, with the price fluctuation limit changing from 22% to 23% [1] Group 2 - In the event of a one-sided market on February 9, if the adjusted margin and price fluctuation limits exceed the stated levels, the higher standards will be applied [1] - The exchange urges members to enhance risk awareness and prepare detailed risk contingency plans, advising investors to manage risks and control positions rationally to ensure market stability [1]

Core Viewpoint - The Shanghai Gold Exchange announced adjustments to margin levels and price fluctuation limits for certain contracts, effective February 9, 2026, to enhance risk management and market stability [3][8]. Group 1: Margin Adjustments - The margin ratio for contracts Au (T+D), mAu (T+D), Au (T+N1), Au (T+N2), NYAuTN06, and NYAuTN12 will increase from 17% to 18% [8]. - The margin ratio for the Ag (T+D) contract will rise from 23% to 24% [8]. Group 2: Price Fluctuation Limits - The price fluctuation limit for Au contracts will change from 16% to 17% starting the next trading day after February 9, 2026 [8]. - The price fluctuation limit for Ag contracts will be adjusted from 22% to 23% on the same date [8]. Group 3: Risk Management - In the event of a one-sided market on February 9, if the adjusted margin and price fluctuation levels exceed the stated standards, the higher standards will apply [8]. - Members are advised to enhance risk awareness, develop detailed emergency plans, and encourage investors to manage risks and control positions rationally to ensure market stability [8].

Core Viewpoint - The Shanghai Gold Exchange has announced adjustments to the margin levels and price fluctuation limits for certain gold and silver contracts, effective February 4, 2026, and February 3, 2026, respectively [2][4][6]. Group 1: Gold Contract Adjustments - The margin ratio for contracts such as Au (T+D), mAu (T+D), Au (T+N1), Au (T+N2), NYAuTN06, and NYAuTN12 will increase from 16% to 17% [2][4]. - The price fluctuation limit for these gold contracts will change from 15% to 16% starting the next trading day [2][4]. - The margin for CAu99.99 contracts will rise from 120,000 yuan to 150,000 yuan per contract [2][4]. Group 2: Silver Contract Adjustments - The margin level for Ag (T+D) contracts will decrease from 26% to 23% [5][6]. - The price fluctuation limit for Ag (T+D) contracts will be adjusted from 25% to 22% starting the next trading day [5][6].

Core Viewpoint - The Shanghai Gold Exchange has announced adjustments to the margin levels and price fluctuation limits for gold and silver contracts, effective from February 4, 2026, and February 3, 2026, respectively [1][3][5]. Summary by Category Gold Contracts - The margin ratio for Au (T+D) and related contracts will increase from 16% to 17% starting from the close on February 4, 2026 [1][5]. - The price fluctuation limit for these contracts will be adjusted from 15% to 16% on the next trading day [1][5]. - The margin requirement for CAu99.99 contracts will change from 120,000 yuan to 150,000 yuan per contract [1][5]. Silver Contracts - The margin level for Ag (T+D) contracts will decrease from 26% to 23% effective from the close on February 3, 2026 [3][7]. - The price fluctuation limit for Ag (T+D) contracts will be reduced from 25% to 22% starting the next trading day [3][7]. Exchange Overview - The Shanghai Gold Exchange, established in October 2002 and approved by the State Council, specializes in trading precious metals and had 291 members as of the end of 2023 [5].

Group 1 - The Shanghai Gold Exchange announced adjustments to the margin levels and price fluctuation limits for silver and gold contracts [2][3] - For silver contracts (Ag(T+D)), the margin level will decrease from 26% to 23%, and the price fluctuation limit will be reduced from 25% to 22%, effective from February 3, 2026 [2] - For gold contracts (Au(T+D), mAu(T+D), Au(T+N1), Au(T+N2), NYAuTN06, NYAuTN12), the margin level will increase from 16% to 17%, and the price fluctuation limit will rise from 15% to 16%, effective from February 4, 2026 [3] Group 2 - The margin for CAu99.99 contracts will increase from 120,000 yuan to 150,000 yuan per contract [3] - The Shanghai Gold Exchange emphasized the importance of risk management and urged members to enhance risk prevention measures and investor awareness [2][3]

Group 1 - The Shanghai Gold Exchange announced adjustments to the margin levels and price limits for certain gold contracts, effective February 4, 2026, increasing the margin ratio for Au (T+D) contracts from 16% to 17% and raising the price limit from 15% to 16% [2][4] - For the CAu99.99 contract, the margin per contract will increase from 120,000 yuan to 150,000 yuan [4] - The exchange emphasized the importance of risk management and urged members to enhance their risk prevention measures and ensure market stability [4] Group 2 - The margin level for Ag (T+D) contracts will be reduced from 26% to 23%, with the price limit decreasing from 25% to 22%, effective February 3, 2026 [8] - The exchange reiterated the need for members to maintain awareness of risk and to implement detailed emergency plans to safeguard against market volatility [8]

Group 1 - The Shanghai Gold Exchange announced adjustments to margin levels and price limits for certain gold contracts, effective from February 4 [1] - The margin ratio for contracts such as Au (T+D), mAu (T+D), Au (T+N1), Au (T+N2), NYAuTN06, and NYAuTN12 has been increased from 16% to 17%, with the price fluctuation limit raised from 15% to 16% [1] - The margin for CAu99.99 contracts has been adjusted from 120,000 yuan per lot to 150,000 yuan per lot [1] Group 2 - The margin level for Ag (T+D) contracts has been decreased from 26% to 23%, with the price fluctuation limit reduced from 25% to 22% [3]

Group 1 - The Shanghai Gold Exchange has announced adjustments to the margin levels and price limits for certain gold contracts, effective from February 4, 2026 [2] - The margin ratio for contracts such as Au (T+D), mAu (T+D), Au (T+N1), Au (T+N2), NYAuTN06, and NYAuTN12 will increase from 16% to 17%, and the price fluctuation limit will change from 15% to 16% [2] - The margin for the CAu99.99 contract will be adjusted from 120,000 yuan per hand to 150,000 yuan per hand [2] Group 2 - The margin level for the Ag (T+D) silver contract will be reduced from 26% to 23%, effective from February 3, 2026 [4][5] - The price fluctuation limit for the Ag (T+D) contract will decrease from 25% to 22% starting the next trading day [4][5] - The Shanghai Gold Exchange emphasizes the importance of risk management and encourages members to enhance their risk prevention measures [5]

Group 1 - The Shanghai Gold Exchange has announced adjustments to the margin levels and price fluctuation limits for gold and silver contracts, effective from September 5, 2025 [1] - The margin level for gold contracts (Au T+D, mAu T+D, Au T+N1, Au T+N2, NYAuTN06, NYAuTN12) will increase from 13% to 14%, and the price fluctuation limit will change from 12% to 13% [1] - The margin level for silver contracts (Ag T+D) will rise from 16% to 17%, with the price fluctuation limit increasing from 15% to 16% [1] Group 2 - The exchange emphasizes the importance of risk awareness among members and encourages the implementation of risk management plans [1] - Investors are advised to manage their positions carefully and invest rationally to ensure the stability and healthy operation of the market [1]