On October 15, international gold hit a new record high. COMEX gold has exceeded the US$4,200/ounce mark, reaching a maximum of US$4,205.8/ounce, with a maximum increase of 1.02%; London spot gold has exceeded the US$4,180 mark, with a maximum of US$4,186.8/ounce, with a maximum increase of 1.09%.
On October 14, Bank of China announced that it will adjust the purchase conditions of accumulation gold products starting from October 15. When purchasing accumulation gold products based on the amount or creating an accumulation fixed investment plan, the minimum purchase amount will be adjusted from 850 yuan to 950 yuan, and the additional purchase amount will remain unchanged at an integral multiple of 200 yuan.
On October 11, ICBC issued an announcement stating that starting from October 13, the minimum investment amount (i.e., the starting point for accumulation) of ICBC’s Ruyi Gold accumulation business will be raised from 850 yuan to 1,000 yuan. Regular accumulation plans that have been successfully set up before the adjustment will continue to be implemented and will not be affected. After the regular accumulation plan with automatic extension expires, if the original planned accumulation amount meets the latest requirements of ICBC, the extension will be successful, otherwise the extension will fail. Modifications to the regular accumulation plan must meet ICBC’s latest accumulation amount requirements.
On October 9, Bank of Ningbo announced that due to the recent fluctuations in domestic gold prices, Bank of Ningbo will adjust the minimum purchase amount of accumulated funds from 900 yuan to 1,000 yuan from October 11. If the purchase amount is less than 1,000 yuan, the transaction application will not be successfully submitted.
Industrial Bank issued an announcement on September 22 that it plans to adjust the purchase starting point for the amount-based purchase method of accumulated current and ordinary term business. When doing the amount-based transaction, the starting point for single purchase and new fixed investment purchase will be adjusted from RMB 900 to RMB 1,000. In addition, Industrial Bank also stated that due to the impact of factors such as the international macroeconomic environment and geopolitics, gold price fluctuations have increased. In the future, Industrial Bank will adjust the spreads and minimum purchase amounts of accumulated gold demand and ordinary regular business transactions in a timely manner based on the gold market conditions. It is recommended that customers keep paying attention to the gold market and price trends and reasonably control their positions.
In addition, many banks have recently issued market risk warnings for precious metals business, calling on investors to enhance their awareness of risk prevention, participate in the market rationally, and control their positions reasonably.
