Gold prices fluctuate! The Shanghai Gold Exchange issues a notice to control risk, and multiple banks are all actively adjusting their precious metals businesses.

Source: Global Times

【Global Times Financial News】 After a rapid rise earlier this year, the gold market has recently entered a clear correction phase. On March 23, spot gold closed at $4,407.35 per ounce, down 1.88%. On the same day, the Shanghai Gold Exchange issued a notice stating that recent market instability factors have increased significantly, leading to more pronounced fluctuations in precious metal prices. All member units are advised to closely monitor market changes, prepare detailed risk emergency plans, and maintain market stability. Investors are also reminded to manage risks properly, control positions reasonably, and invest rationally.

Dongfang IC

In this context, several banks have issued announcements to raise margin requirements, promote contract cancellations and account closures, or even withdraw from related businesses altogether. On March 17, Postal Savings Bank announced that it would cease handling personal gold trading transactions on the Shanghai Gold Exchange and required clients to close or sell their positions within a limited time; otherwise, forced liquidation and account closure would be enforced. On the same day, Minsheng Bank reminded clients to complete contract cancellations promptly, continuing the bank’s previous efforts to reduce exposure.

Earlier, Ping An Bank had clearly announced that it would gradually exit this business starting April 2026; Industrial Bank has been shrinking its channels, closing some online trading portals, and only allowing in-branch and mobile banking transactions. Meanwhile, some banks are “cooling down” the market indirectly by raising trading thresholds, widening spreads, and reducing limits, thereby decreasing customer trading frequency.

Since Q4 2025, more than ten banks, including joint-stock and city commercial banks, have gradually adjusted their precious metals businesses. Some banks have suspended new customer account openings, restricted buying directions, or phased out existing clients. Besides trading activities, even low-risk savings gold products have been tightened. Some banks have implemented daily purchase limits and dynamically adjusted buy-sell spreads to strengthen risk control, with overall strategies becoming more conservative.

Industry insiders believe that recent sharp fluctuations in gold prices can easily trigger individual investors to chase gains or sell in panic, amplifying potential risks. Coupled with ongoing regulatory efforts to strengthen investor suitability management and risk disclosure requirements, banks’ proactive withdrawal from certain business areas has become an inevitable choice. (Nan Mu)

Massive information, precise analysis, all on Sina Finance APP