China Banks Adjust Thresholds for Gold Accumulation Business
Beijing, March 12 (Xinhua) – The recent surge in gold prices has led to some Chinese banks adjusting their thresholds for gold accumulation business. According to the “China Securities Journal,” the price of gold on the Shanghai Futures Exchange has been consistently above 500 yuan/gram in recent days, attracting more interest in gold deposit business.
Xiao Yang, a gold-saving enthusiast and white-collar worker in Beijing, remarked, “The recent price of gold is really witnessing history every day.” Many individuals, like Xiao Yang, are looking to capitalize on the rising prices through gold accumulation business.
To accommodate the market changes, China Construction Bank announced that it would adjust its personal gold accumulation business, raising the starting point for regular accumulation to 600 yuan. Analysts advise investors to invest rationally and wait for a correction in gold prices before making any significant investments.
The popularity of gold accumulation business is evident, with many individuals opting to exchange their accumulated gold for physical gold, particularly smaller weight gold bars like 10 grams. Banks offer customers the option to open a gold accumulation account and purchase gold through fixed or active investments, with the opportunity to convert the accumulated gold into physical gold upon maturity.
Several state-owned and joint-stock banks have launched gold accumulation business, attracting a significant number of customers looking to diversify their investment portfolio. This method allows for daily trading of gold within the plan cycle, evenly sharing the cost of funds and minimizing risks caused by market price fluctuations.
As gold prices continue to rise, banks are adjusting their business thresholds accordingly. China Construction Bank recently increased the starting point for regular accumulation, while the Agricultural Bank of China also raised the starting point for fixed investment purchases. These adjustments are made to encourage investors to pay attention to potential volatility risks and ensure rational investment decisions in the gold market.
Industry analysts emphasize the importance of rational investment and risk management in the gold market. With gold prices prone to fluctuation due to economic and geopolitical factors, investors are advised to wait for corrections before making any significant investments. By choosing investment products that align with their financial resources and risk tolerance, investors can better navigate the volatile gold market.