Core Viewpoint - China Construction Bank (CCB) announced adjustments to its personal gold accumulation business rules to protect investor rights, with the new rules set to take effect on November 15, 2025 [1] Group 1: Adjustments to Trading Rules - CCB will adjust customer pricing based on international and domestic gold price trends, trading positions, market liquidity, and RMB exchange rates, allowing for price adjustments according to market conditions [3] - There will be a price difference between personal gold accumulation buy/sell quotes and the Shanghai Gold Exchange or international market prices due to trading costs and liquidity [3] - CCB reserves the right to adjust the timing of periodic accumulation prices and will announce any changes through official channels [3] Group 2: Redemption Rules - A cumulative net redemption request exceeding 20% of CCB's total accumulation balance from the previous trading day will be classified as a large redemption, and CCB may refuse the excess requests [3] - If large redemptions occur for two consecutive trading days or more, CCB may suspend redemption transactions the following trading day, with announcements made through official channels [3] - CCB also reserves the right to adjust redemption share requirements based on business conditions, with prior announcements through official channels [3] Group 3: Minimum Investment Amount - The starting amount for periodic gold accumulation will be raised to 1200 RMB [4] Group 4: Industry Context - Other banks, such as Citic Bank, are also adjusting their gold accumulation plans, with Citic Bank increasing the minimum investment amount from 1000 RMB to 1500 RMB starting November 15, 2025 [5] - Major banks, including ICBC and CCB, have made significant adjustments to their gold accumulation businesses, including account openings and physical exchanges, which have since returned to normal [5] - The precious metals market is experiencing a new round of price increases, with spot gold surpassing 4130 USD per ounce and domestic gold jewelry prices rising significantly [6]

Core Insights - International gold prices have returned to $4,100, prompting banks to adjust the thresholds for gold accumulation-related businesses [1] Group 1: Company Adjustments - China Construction Bank announced an adjustment to its personal gold accumulation business, increasing the daily accumulation starting amount from 1,000 RMB to 1,200 RMB, effective November 15, 2025 [1] - CITIC Bank also announced a change, raising the minimum investment amount for its regular gold accumulation plan from 1,000 RMB to 1,500 RMB, while maintaining the minimum weight for investment at 1 gram, effective November 15, 2025 [1]