Core Viewpoint - The article discusses the ongoing transformation in the large-denomination certificate of deposit (CD) market, highlighting the decline in interest rates and the shift in investor behavior towards structured deposits linked to gold as a response to the low-interest-rate environment [2][3]. Group 1: Large-Denomination CDs - The interest rates for large-denomination CDs have fallen below 1% for terms under one year, with many medium and small banks also reducing rates to "0" [2][3]. - Major state-owned banks have lowered the interest rates for 1-month and 3-month large-denomination CDs to 0.9%, with some products now offering rates below 2% [3]. - Investors are increasingly reluctant to renew their CDs due to the significant drop in yields, prompting some to explore the secondary market for higher-yielding options [4][5]. Group 2: Structured Deposits - In response to declining deposit rates, banks are promoting structured deposits linked to gold, which offer potentially higher returns while ensuring principal protection [7][8]. - Recent structured deposit products linked to gold have shown expected annual returns ranging from 0.80% to 3.30%, depending on the performance of gold prices [8][9]. - Foreign banks are also entering the market with structured deposits linked to gold, often offering higher expected annual returns compared to domestic banks, with some products yielding between 2% to 5% [10][11].