International Gold Prices Oscillate at High Levels! Banks "Change Tactics": Accumulated Gold Opens Dynamic Quota System

[Global Times Finance Report] Recently, international gold prices have remained volatile at high levels, with increasing market risks. Many domestic commercial banks are adjusting their rules for online gold accumulation services. Unlike previous measures that directly raised the minimum purchase amount, this round of adjustments focuses on more flexible and rigid “dynamic limits.”

Dongfang IC

Since March, China Construction Bank, Industrial and Commercial Bank of China, and others have implemented daily total quota management for gold accumulation products. Once the quota is exhausted, purchases cannot be made for the rest of the day. For example, since February 7, ICBC has limited the “Ruyi Gold Accumulation” business on non-trading days such as weekends and legal holidays, including days when the Shanghai Gold Exchange is closed. The limits include total or single-client daily accumulation/redemption caps, single transaction accumulation or redemption limits, and are set dynamically. Gold withdrawals are unaffected.

Construction Bank also announced on March 3 that, to manage risks, it has implemented dynamic trading limits for “CCB Gold” (including Easy Save Gold). The head office sets a daily total purchase limit based on market risk conditions. Once the limit is reached for the day, customers cannot continue buying, but selling transactions are unaffected.

Earlier, Zheshang Bank stated that if gold prices experience significant abnormal fluctuations or market liquidity dries up, it may temporarily suspend the “Wealth Gold Accumulation” business, during which all buying, selling, and exchange services will be halted.

In addition to account transaction restrictions, the booming demand for physical gold has also prompted banks to adjust their service processes. Construction Bank clarified in its announcement that, due to the recent surge in physical precious metal purchases, the delivery period for orders placed from March 3 will be extended to 10-15 working days (no delivery on holidays).

Industry experts believe that the previous “raising thresholds” mainly filtered out small retail investors, but had a lag in responding to short-term market volatility. Dynamic limits and temporary market closures can precisely restrict high-frequency short-term speculation, effectively reducing banks’ operational risks and pressures during extreme market conditions. The core reason for the recent gold price fluctuations is a significant shift in market trading logic—from risk aversion to concentrated concerns about inflation rebound. (Nan Mu)