Core Viewpoint - Recent volatility in domestic and international precious metal markets has significantly increased uncertainty, prompting banks to issue warnings and adjust trading parameters to protect investors [1][3][4]. Group 1: Agricultural Bank - Agricultural Bank has issued a warning regarding the severe fluctuations in precious metal prices, urging clients to assess their risk tolerance and financial situation before engaging in trading [1][4]. - The bank announced adjustments to the trading limits for silver contracts under its Gold Market Access service, increasing the price fluctuation limit from 19% to 25% if a one-sided market condition occurs starting February 2, 2026 [1][5]. - Clients are advised to monitor market changes closely and manage their positions effectively to mitigate risks associated with market volatility [1][5]. Group 2: Postal Savings Bank - Postal Savings Bank has also highlighted the increased volatility in precious metal markets, advising clients to enhance their risk awareness and make rational investment decisions [1][5]. - The bank emphasizes the importance of avoiding impulsive trading behaviors and maintaining a balanced portfolio in light of the current market conditions [1][5]. Group 3: China Merchants Bank - China Merchants Bank has announced adjustments to its "Zhaocai Gold" business, increasing the margin requirement for various gold contracts from 60% to 70% due to heightened market volatility [3][7]. - The fluctuation limit for the Ag (T+D) contract will be raised to 25% if a one-sided market condition is observed, while it remains unchanged at 15% if not [3][7]. - These measures are aimed at safeguarding investor interests and mitigating market risks [3][7].

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].