蓝鲸新闻12月15日讯（记者 严沁雯）贵金属价格剧烈波动下，银行正持续收缩高风险贵金属业务条线。 12月15日，工商银行（下称"工行"）发布公告称，为顺应市场变化，保护投资者权益，该行对于代理上海黄金交易所 （下称"上金所"）个人贵金属交易业务将加强管理。 根据公告，工行提醒无持仓、无库存、无欠款、保证金账户仍有资金余额的客户，尽快自助办理资金转出手续。该行 将自12月19日起，将上述客户的保证金账户余额批量转出至该业务绑定的结算账户，并关闭相关业务功能。关闭后， 客户与工行签署的《代理个人客户贵金属竞价交易业务协议书》将终止。 工行同时表示，现有持仓客户的平仓交易不受本次业务调整影响。 事实上，2022年全球大宗商品价格亦曾出现大幅波动，彼时包括工行在内的多家银行便宣布暂停账户黄金、账户白银 业务开仓交易。随着此次关闭闲置账户的业务功能，银行代理上金所贵金属业务进一步退场。 工行的调整并非孤例。据不完全统计，9月至今，已有包括国有大行、股份行、城商行在内的六家银行宣布对代理上金 所贵金属业务进行调整。在业内人士看来，这向市场传递了贵金属价格波动下，交易活动风险较大的信号。反映了银 行审慎管理风险的态度。 多 ...

Core Viewpoint - Major Chinese banks, including Industrial and Commercial Bank of China (ICBC) and China Construction Bank (CCB), have temporarily suspended certain gold accumulation services due to macroeconomic policy impacts and system upgrades aimed at improving service quality and compliance with new tax regulations [1][4][6]. Group 1: Service Suspension Details - On November 3, ICBC announced the suspension of its "Ruyi Gold Accumulation" services, including account openings, proactive accumulation, new fixed accumulation plans, and physical gold withdrawals, effective immediately [4]. - CCB also announced a suspension of its "Easy Storage Gold" services, including real-time purchases, new investment plans, and physical gold exchanges, while existing plans and redemptions remain unaffected [5][6]. Group 2: Reasons for Adjustments - The adjustments are attributed to recent changes in gold sales tax regulations issued by the Ministry of Finance and the State Administration of Taxation, necessitating system updates to align with these new policies [6]. - Additionally, fluctuations in international gold prices due to global political and economic conditions have increased market risks and uncertainties, prompting banks to take precautionary measures [6][8]. Group 3: Market Reactions and Future Outlook - Following the initial suspension, ICBC quickly restored its "Ruyi Gold Accumulation" services later that same day, indicating a rapid response to market conditions [2][5]. - Industry experts suggest that the temporary suspension of services serves as a reminder for investors to enhance their risk awareness and manage their investment positions carefully, especially in light of recent volatility in gold prices [7][9].

Core Viewpoint - Major Chinese banks, including Industrial and Commercial Bank of China (ICBC) and China Construction Bank (CCB), have temporarily suspended certain gold accumulation services due to macroeconomic policy impacts and system upgrades aimed at enhancing customer service and product quality [1][4][5]. Group 1: Business Operations - On November 3, ICBC announced the suspension of its "Ruyi Gold Accumulation" services, affecting new account openings, active accumulation, and physical gold withdrawals, while existing plans remain unaffected [5][7]. - Later that evening, ICBC reversed its decision and resumed accepting applications for the "Ruyi Gold Accumulation" services, allowing customers to manage their gold accumulation through various channels [2][7]. - CCB also announced a suspension of its "Easy Storage Gold" services, including real-time purchases and physical gold exchanges, while existing investment plans continue to operate normally [7][10]. Group 2: Market Context - The recent suspension of gold accumulation services is linked to adjustments in the banking system to comply with new gold tax policies and to manage risks associated with market volatility [4][10]. - Since October, international gold prices have experienced significant fluctuations, prompting banks to issue risk warnings and advise investors to exercise caution and manage their investment positions carefully [10][11][12].

Core Viewpoint - The recent fluctuations in gold prices have prompted several major banks in China to adjust their gold accumulation business, primarily due to macroeconomic policies, market volatility, and internal risk management requirements [1][2]. Group 1: Bank Adjustments - On November 3, both Industrial and Commercial Bank of China (ICBC) and China Construction Bank (CCB) announced the suspension of certain gold accumulation services, effective immediately [2]. - ICBC's announcement included the suspension of new account openings, active accumulation, and new fixed accumulation plans for its "Ruyi Gold" service, while existing plans remain unaffected [2]. - CCB similarly suspended real-time purchases and exchanges for its "Easy Gold" service, while existing plans and redemptions will continue as normal [2][4]. Group 2: Market Context - Since October, multiple banks have adjusted their gold accumulation services, primarily by increasing the minimum purchase amounts or adopting a "floating price" model based on gold prices [3][4]. - For instance, on October 21, both Industrial Bank and Ping An Bank raised their minimum investment amounts for gold accumulation plans due to significant fluctuations in domestic gold prices [3]. - As of November 3, the London spot gold price was reported at $4016.805 per ounce, having increased over 53% year-to-date, with a peak of $4381 per ounce earlier in the year [4]. Group 3: Risk Management and Investor Education - The adjustments made by banks reflect a cautious approach to risk management in light of the volatile gold market, aligning with regulatory compliance requirements [4][5]. - Financial institutions are tightening business rules and enhancing investor risk education to mitigate the impact of high volatility in gold prices [5][6]. - Banks have issued multiple risk warnings to investors, advising them to be aware of market changes and manage their positions carefully [6][7].

Core Viewpoint - The recent volatility in domestic and international precious metal prices has increased investment trading risks, prompting the Bank of Communications to advise investors to enhance their risk awareness and monitor their positions and margin balances closely [1] Group 1 - The Bank of Communications has issued a notice regarding the heightened volatility in precious metal prices [1] - Investors are encouraged to pay attention to market changes and improve their risk prevention awareness in precious metal trading [1] - The bank emphasizes the importance of timely monitoring of positions and margin balance changes to manage exposure effectively [1]

Core Viewpoint - Recent significant fluctuations in gold and silver prices have prompted financial institutions to tighten regulations on gold trading to protect investors from high leverage risks [3][5]. Group 1: Market Movements - On October 21, international gold and silver prices experienced a sharp decline, with spot gold dropping over 2% and more than $100 from its intraday high, while spot silver fell over 3% [1]. Group 2: Institutional Responses - Everbright Bank announced that starting October 20, it would gradually terminate business relationships with clients who have no positions in the Shanghai Gold Exchange's spot and deferred trading [3]. - Other banks, including Industrial Bank, China Merchants Bank, and China Construction Bank, have also issued warnings regarding the increased market risks associated with precious metals trading [5]. Group 3: Margin Adjustments - The Shanghai Gold Exchange has raised the margin requirements for gold trading contracts, effective from October 20, 2025. The standard margin for certain contracts will increase from 38% to 40%, and for silver contracts from 41% to 43% [8].

Group 1: Gold Market Overview - As of October 21, the price of gold in the domestic market has seen a significant increase, with major retailers reporting higher prices per gram compared to the previous day. For instance, Lao Miao's gold jewelry is quoted at 1294 CNY per gram, up 36 CNY from 1258 CNY, while Chow Tai Fook's price is 1292 CNY, an increase of 30 CNY from 1262 CNY, and Lao Feng Xiang's price is 1290 CNY, up 32 CNY from 1258 CNY [3] Group 2: Institutional Responses to Market Volatility - Due to the recent sharp increase in gold prices, several financial institutions, including Everbright Bank, have begun to impose restrictions on gold trading. Everbright Bank announced that starting October 20, it would gradually terminate business relationships with clients who have no positions in the Shanghai Gold Exchange's spot and deferred business [5] - Other banks, such as Industrial Bank, China Merchants Bank, and China Construction Bank, have also issued warnings regarding the heightened market risks associated with precious metals. Industrial Bank advised clients to closely monitor market trends and manage their positions according to their risk tolerance [7] - China Merchants Bank emphasized the importance of monitoring position status and margin balance, recommending clients to diversify their investments to avoid heavy concentration in precious metals [9] Group 3: Margin Requirements Adjustments - The Shanghai Gold Exchange has increased the margin requirements for gold trading contracts. Effective from October 20, the standard margin ratio for various gold contracts will rise from 38% to 40%, while the margin for silver contracts will increase from 41% to 43%. Additionally, the additional margin requirement will change from 22% to 24% [11]

Core Viewpoint - The Shanghai Futures Exchange (SHFE) has announced adjustments to the margin ratios and price fluctuation limits for gold and silver futures contracts due to increased volatility in the precious metals market [2]. Group 1: Margin and Price Fluctuation Adjustments - Starting from the close of trading on October 21, 2025, the price fluctuation limit for gold and silver futures contracts will be adjusted to 14% [2]. - The margin ratio for holding positions will be set at 15% for hedging and 16% for general positions [2]. Group 2: Risk Warnings from Banks - Several banks, including Industrial and Commercial Bank of China, China Construction Bank, and CITIC Bank, have issued risk warnings regarding fluctuations in precious metal prices [4]. - ICBC has advised investors to be aware of market changes and to diversify their investments to mitigate risks [4]. - China Bank has increased the minimum purchase amount for gold accumulation products from 850 yuan to 950 yuan, effective October 15 [4]. Group 3: Gold Price Volatility - Recent fluctuations in gold prices have been significant, with spot gold prices reported at $4,333.91 per ounce on October 17 [6]. - The main gold futures contract on the SHFE reached a historical high, surpassing the 1,000-point mark [7]. - Domestic gold jewelry prices have also risen, with some brands adjusting their prices to 1,270 yuan per gram [8]. Group 4: Future Price Trends - According to a report from招商证券, gold prices are expected to continue rising due to factors such as central banks' ongoing purchases of gold and a shift in gold ETFs from net sellers to net buyers [8]. - The report highlights that both monetary and financial attributes will drive gold prices in the future [8].

Core Insights - International gold prices have surged, breaking the $4200 per ounce mark for the first time, marking a historical high with an increase of approximately 60% year-to-date [1][3] Group 1: Market Trends - The recent volatility in international gold prices has prompted several banks, including the Shanghai Gold Exchange and Industrial and Commercial Bank of China, to issue risk warnings [1][3] - The Shanghai Gold Exchange has advised its members to enhance risk awareness and maintain emergency response plans to ensure market stability amid the fluctuations [1] Group 2: Investment Recommendations - Banks such as Industrial and Commercial Bank of China and China Construction Bank have suggested that investors should make rational investment decisions based on their financial conditions and risk tolerance [3] - Investors are encouraged to manage their gold asset allocation prudently in light of the increased market risks [3]

Core Insights - International gold prices have continued to rise, reaching historical highs, with an increase of approximately 60% this year [2] - Various banks, including the Shanghai Gold Exchange and Industrial and Commercial Bank of China, have issued risk warnings due to significant fluctuations in gold prices [2] Group 1: Market Trends - The recent surge in international gold prices is attributed to multiple unstable market factors [2] - The Shanghai Gold Exchange has advised its members to enhance risk awareness and maintain emergency response plans to ensure market stability [2] Group 2: Investment Recommendations - Banks such as Industrial and Commercial Bank of China and China Construction Bank have recommended that investors engage in rational investment practices based on their financial conditions and risk tolerance [2] - Investors are urged to manage their gold asset scale appropriately in light of the increased market risks [2]