As international gold prices continue to climb and fluctuate at high levels, the gold buy-back market is experiencing a surge.

Recently, several banks have intensified their promotion of gold buy-back services, primarily repurchasing products sold by themselves, to meet investors’ cash-out needs. Taking Agricultural Bank of China (ABC) as an example, the bank has opened nearly 3,000 gold buy-back outlets nationwide, providing customers with convenient gold trading channels and services. The buy-back scope covers gold products sold by ABC that come with buy-back certificates.

To satisfy the cash-out demands of more customers, some banks have upgraded their gold buy-back services to support the buy-back of gold purchased through other channels. Recently, Industrial and Commercial Bank of China (ICBC) released the “ICBC Gold Buy-back Guide,” announcing the launch of a buy-back service for “non-ICBC brand gold bars.” In addition to repurchasing gold products sold by itself, ICBC also supports the buy-back of Au99.99 brand gold bars from 14 other commercial banks and 2 gold enterprises. The buy-back price is determined by subtracting a certain buy-back spread from the base buy-back price. Specifically, the buy-back spread for ICBC brand gold is 4 yuan/gram, while the spread for non-ICBC brand gold bars and other gold products is 10 yuan/gram.

Li Yingge, Director of the Precious Metals Business Division at ABC’s Personal Finance Department, stated that the recent continuous rise in international gold prices has strengthened the market’s long-term confidence in gold. The enthusiasm for gold trading has increased, and customers’ willingness to cash out has also grown, driving robust gold buy-back transactions. “Since the beginning of the year, ABC’s gold buy-back volume has doubled compared to the same period last year,” Li said.

Many consumers believe that compared to outside gold recycling stalls and pawn shops, the gold buy-back services offered by banks are more transparent and formal. Customers only need to bring their ID cards, bank cards, the original packaged gold products and certificates, and purchase vouchers to process the buy-back transaction, with funds being quickly transferred to their accounts.

Li Yingge explained that ABC’s gold buy-back pricing is based on the gold price of the Shanghai Gold Exchange, with a small handling fee deducted (the specific spread is adjusted according to the product type). During trading hours, customers can check the gold buy-back price by entering the “Precious Metals” section of the mobile banking app or by visiting a branch for consultation.

It is worth noting that although bank gold buy-back services are highly favored, not all gold products can be repurchased. After inquiring at several bank branches, reporters learned that banks prefer to repurchase investment gold bars rather than gold jewelry. This is because jewelry gold requires appraisal and purification, and the weight may change, potentially leading to disputes. Experts remind investors that gold buy-back prices are subject to fluctuations and suggest careful consideration before proceeding.