"参考当前市场情况，我行将于2025年10月15日起调整积存金产品的购买条件。"10月14日，中国银行发布了《关于调整积存金产品按金额购买起点的公 告》，将该行积存金产品的最小购买金额由850元调整为950元。 今年10月以来，国内外贵金属价格波动加剧，市场风险提升。《金融时报》记者注意到，近期，工商银行、中国银行、建设银行等多家金融机构密集发布 相关公告，对贵金属业务进行动态调整，调整方向包括提高投资门槛、调整涨跌停板规则及交易保证金比例等多方面。 10月11日，工商银行也发布了相关公告，提高了该行积存金业务的投资门槛。公告显示，自10月13日起，该行将如意金积存业务最低投资额（即积存起点 金额）由850元上调至1000元；按克数积存的积存起点仍为1克。 "调整前已设置成功的定期积存计划将继续执行，不受影响。"工行表示，将持续关注贵金属市场波动情况，适时对如意金积存业务最低投资额进行调整。 自9月以来，宁波银行先后对积存金起购金额进行了两次调整。自9月4日起，该行积存金起购金额从800元提升至900元。10月9日，宁波银行再次发布调整 贵金属积存金业务（含积存计划）起购金额的公告。自10月11日起，该行积存 ...

李凤文 国际金价再度上演"高光时刻"。9月23日，COMEX黄金期货价格首次突破3800美元关口，盘中最高触及 3824.6美元/盎司，伦敦金同步突破3790美元/盎司，双双创下历史新高。金价年内超40%的涨幅，让 含"金"类理财产品重新成为市场关注的焦点，投资者参与热情持续升温。 但热度之下更需警惕风险。黄金并非稳赚不赔的"神话"，2000年以来金价曾出现3次创新高后回撤，最 大回撤幅度达44%。更值得警惕的是，部分机构借黄金概念设局，如永坤黄金以"存金生息""保本年化 5%—9%"为噱头，通过资金池模式运作，最终导致超3亿元资金无法兑付。另有案例以黄金延期交付为 幌子，7年诈骗1600余人、涉案金额超4亿元。 值得一提的是，既然是理财，就要承担相应的风险。对投资者而言，理性参与需做好三重功课。一是明 确配置比例，黄金的核心价值在于分散风险，世界黄金协会建议组合中配置5%—10%，达利欧则认为 谨慎比例可至10%—15%，切忌重仓押注。二是读懂产品逻辑，尤其需要了解结构性产品条款的相关内 容，关注障碍价格设置、衍生品条款及封闭期等关键信息，避开"保本高息"陷阱。三是坚持量力而行， 优先选择持牌金融机构发行的 ...

Core Viewpoint - The recent surge in international spot gold prices, maintaining above $3,700 per ounce, has led to strong performance in gold-linked financial products, with annualized returns ranging from 2.00% to 4.00% [1][2]. Group 1: Factors Behind Gold Price Increase - The current rise in gold prices is supported by several factors: a favorable macro monetary environment with expectations of interest rate cuts by the Federal Reserve, increased gold reserves by emerging market central banks, and heightened geopolitical risks that enhance gold's appeal as a safe-haven asset [2][5]. - This gold price rally not only continues the traditional safe-haven narrative but also benefits from a global trend of "de-dollarization," which adds strategic value to gold [2][5]. Group 2: Early Profit-Taking in Gold-Linked Products - The frequent early profit-taking in gold-linked financial products reflects both the risk control mechanisms in product design and institutions' cautious outlook on future price volatility [3][5]. - This phenomenon is expected to be more common in the short term, especially in a high-volatility environment, as institutions aim to protect investor interests and stabilize product returns [3][5]. Group 3: Trends in New Gold-Linked Financial Products - Recent trends in gold-linked financial products include innovative designs that go beyond traditional price-linked models, incorporating features like range returns and automatic profit-taking to enhance flexibility and risk mitigation [4][5]. - The asset allocation for these products has expanded to include not only direct gold links but also gold ETFs and actively managed funds focused on gold themes, resulting in improved performance and increased market attention [4][5]. Group 4: Challenges Faced by Financial Institutions - Financial institutions face significant challenges, including the unpredictable nature of gold prices influenced by global political and economic factors, which complicates risk management [6]. - Additionally, institutions must balance innovation in product offerings with compliance to regulatory requirements, making it difficult to attract investors while adhering to dynamic regulatory policies [6]. Group 5: Long-Term Outlook for Gold-Linked Financial Products - Following a recent 25 basis point rate cut by the Federal Reserve, gold prices reached a historical high but have since retreated slightly due to market expectations and geopolitical tensions [7]. - Despite the current peak, long-term support for gold prices is anticipated due to ongoing geopolitical conflicts and central bank demand, suggesting that gold-linked fixed-income products may still hold investment value [7].

屈颖分析认为，黄金挂钩理财产品频繁出现因触发条件而提前止盈的现象，既体现了产品设计中的风险 控制机制，也反映出机构对后市波动的审慎判断。这种提前止盈现象具有阶段性特征。一方面，在金价 处于高位并伴随较大波动的情况下，理财机构通过触发止盈机制锁定收益，有助于保护投资者利益并维 持产品收益的相对稳定；另一方面，由于不同产品的设计结构、挂钩方式及触发阈值存在差异，并非所 有黄金挂钩理财都会提前止盈。总体来看，在高波动环境下，这种现象可能在短期内较为频繁，投资者 在配置时仍需关注产品条款细则及自身风险承受能力，合理规划投资策略。 发行提速创新多 近期，国际金价持续走强，连续多日站稳3600美元/盎司上方。在此背景下，挂钩黄金的理财产品市场 迅速回暖，产品平均收益表现亮眼，新发数量与规模也显著提升。业内人士指出，理财机构及投资者对 黄金资产的关注度持续升温，通过跨市场配置黄金，不仅能提升资产分散性，更能有效把握金价上行的 红利，增厚组合收益。 金价屡创新高 年初至今，伦敦现货黄金累计涨幅已接近40%，成为全球资产配置中的一大亮点。普益标准研究员屈颖 分析认为，本轮金价上涨的逻辑清晰，主要体现在宏观货币环境、新兴市场储备 ...

Core Viewpoint - The recent surge in international gold prices has led to increased market interest in gold-linked financial products, with a notable rise in issuance since the second half of this year [1]. Group 1: Market Trends - As of September 17, there are 47 gold-linked financial products in the market, with approximately 20% of these launched in the second half of the year, indicating a significant increase in issuance activity [1]. - Multiple gold-linked products have been launched in September, including the 招银理财招睿焦点联动挂钩黄金15号固收类理财计划, which is linked to SGE gold 9999 [1][2]. Group 2: Product Characteristics - The newly launched products primarily invest in fixed-income assets and derivatives linked to SGE gold 9999, with annualized performance benchmarks ranging from 0.90% to 6.45% [1]. - The investment strategy for these products includes a combination of stable fixed-income investments and derivatives to enhance returns while managing risk [2]. Group 3: Investment Strategies - The structure of these products often includes embedded derivatives, such as call options, to provide potential upside while limiting downside risk [2][3]. - The current market offerings are predominantly classified as R2 risk level "fixed income+" products, which aim to preserve capital while capturing opportunities in equity and commodity markets [3]. Group 4: Market Performance - Recent statistics indicate that gold-linked "fixed income+" products have outperformed other fixed-income products in terms of annualized returns [4]. - Financial advisors are promoting these products as attractive investment options in the context of rising stock and gold markets [4].

Core Viewpoint - The recent surge in gold prices has led to an increase in the issuance of gold-linked wealth management products by bank wealth management subsidiaries, driven by the growing investment value of gold and the rising demand for stable return products [1][2]. Group 1: Market Trends - As of September 5, the price of gold reached $3,552.701 per ounce, surpassing the critical $3,500 mark, prompting banks to issue more gold-related financial products [1]. - Multiple banks, including 招银理财 and 光大理财, have launched gold-linked wealth management products in response to the rising gold prices, indicating a trend towards gold investment [2]. - There are currently 47 wealth management products in the market that include "gold" in their names, with 16 of these being issued by bank wealth management subsidiaries [2]. Group 2: Product Structure - The gold-linked wealth management products primarily adopt a closed-end operation model, focusing on fixed-income investments [2]. - These products can be categorized into two types: "fixed income + gold" products that combine fixed-income assets with gold investments, and structured products linked to gold derivatives [2]. Group 3: Future Outlook - The number of bank wealth management subsidiaries participating in gold investment is currently limited, but demand for gold as a hedge against risk is expected to grow, leading to more banks exploring gold investment strategies [3]. - The ongoing rise in gold prices is anticipated to continue in the medium to long term, driven by factors such as geopolitical risks, strong central bank demand for gold, and persistent market expectations for interest rate cuts [4]. Group 4: Investor Guidance - Investors are advised to carefully assess their risk tolerance and investment goals when selecting gold-linked products, as these products are better suited for long-term asset allocation rather than short-term speculation [5][6]. - Key considerations for investors include matching investment objectives with product risks, understanding product structures, and being aware of fees and operational rules associated with these products [6].

Core Viewpoint - The recent surge in gold prices has led to an increase in the issuance of gold-linked wealth management products by bank wealth management subsidiaries, driven by the growing investment value of gold and the rising demand for stable return products [1][2]. Group 1: Market Trends - As of September 5, the price of gold reached $3,552.701 per ounce, surpassing the key level of $3,500, prompting banks to issue more gold-related wealth management products [1]. - Several banks, including 招银理财 and 光大理财, have launched gold-linked wealth management products in recent weeks, contributing to the growing popularity of gold investment [2]. - Currently, there are 47 wealth management products in the market that include "gold" in their names, with 16 of these being issued by bank wealth management subsidiaries this year [2]. Group 2: Product Structure - The gold-linked wealth management products primarily adopt a closed-end operation model, focusing on fixed-income investments [2]. - There are two main types of gold-linked products: one combines fixed income with gold assets, while the other is structured products linked to gold derivatives [2]. Group 3: Future Outlook - The number of bank wealth management subsidiaries participating in gold investment is currently limited, but demand for gold as a hedge against risk is expected to rise, leading to more exploration of gold investment strategies [3]. - The ongoing increase in gold prices is attributed to factors such as geopolitical risks, strong central bank interest in gold, and persistent market expectations for interest rate cuts [4]. Group 4: Investor Guidance - Experts advise investors to approach the rising gold prices with caution and to consider the suitability of gold-linked products for long-term asset allocation rather than short-term speculation [5][6]. - Key considerations for investors include matching investment goals with product risks, understanding product structures, and being aware of fees and operational rules [5][6].