Xinhua News Agency, Beijing, March 12 (Xinhua) “China Securities Journal” published an article on the 12th, “Rising gold prices have triggered some banks to adjust their thresholds for gold accumulation business.” The full text is: “The recent price of gold is really witnessing history every day.” Xiao Yang, a gold-saving enthusiast and white-collar worker in Beijing, said. Since March, the price of gold on the Shanghai Futures Exchange has continued to rise, remaining above 500 yuan/gram for many days. The rise in gold prices has boosted banks’ deposit business. “Recently, there have been many more people inquiring about the accumulation fund business than before, especially during the obvious price rise period. Many people want to use the accumulation fund to earn the buying and selling price difference.” An account manager of a large state-owned bank told a reporter from China Securities Journal.
In order to adapt to market changes, China Construction Bank recently issued an announcement stating that it would adjust its personal gold accumulation business and increase the starting point for regular accumulation to 600 yuan. Analysts said that investors need to invest rationally and grasp the rhythm of accumulation. When the price of gold reaches a historical high, they cannot blindly chase the rise and invest in gold products. If they intend to choose to accumulate gold, it is recommended to wait until there is a certain correction before buying.
Accumulation fund business is popular
“Gold has been really popular recently, and the exchange of accumulated gold for physical gold is also very popular, especially gold bars with small weights such as 10 grams. Some outlets have been out of stock. Today, a branch came to our branch to transfer goods.” Said an account manager at a branch of ICBC in Xicheng District, Beijing.
“Accumulating gold is equivalent to buying virtual gold. The buying and selling is just like a fund, with handling fees. Currently, the standard rate for buying and selling handling fees is 0.5% of the transaction amount. After buying, a share will be formed. If you want For physical gold, you only need to make up the price difference when withdrawing it, and you can directly withdraw it according to the number of grams.” The above-mentioned account manager said, “In the past few months, many customers with accumulated gold have withdrawn physical gold and found someone to buy jewelry themselves.”
The bank’s gold accumulation business generally involves customers opening a gold accumulation account through the bank, and buying gold through fixed investment or active accumulation within a certain period. After expiration, the accumulated gold can generally be converted into physical gold or redeemed or transferred. , pledge and other operations are also regarded as an upgraded version of gold fixed investment.
At present, many banks have already launched this kind of business. The reporter investigated a number of banks and learned that at present, the deposit business of many large state-owned banks and some joint-stock banks is in a relatively hot state.
“Gold accumulation can allocate funds to each trading day within the plan cycle, allowing the purchase of gold on a daily basis, evenly sharing the cost of funds and diversifying risks.” A postal savings bank account manager said that accumulating gold in fixed amounts on a regular basis can be maintained for a long time. Yes, it can be redeemed for cash and exchanged for physical gold. It takes up less funds and can also diversify the risks caused by market price fluctuations.
“My journey of saving money started three years ago. For working people, this is really a good asset allocation method. Once you have a sum of money, you can buy some in pieces, and you can accumulate a small amount into a big sum. Sell to cash out. Whether it’s exchanged for physical gold, there are many choices and flexibility,” Xiao Yang said.
Banks take action to adjust thresholds
Gold prices are booming, and banks are adjusting their business thresholds in a timely manner based on market conditions. The reporter learned from many banks that generally speaking, the starting point for active accumulation or regular accumulation is 1 gram or the equivalent amount.
Due to the sharp rise in gold prices, China Construction Bank recently issued an announcement stating that it would make adjustments to its personal gold accumulation business. Starting from March 7, the starting point for regular accumulation of China Construction Bank’s personal gold accumulation business (including average daily accumulation and optional daily accumulation) will be increased from 500 yuan to 600 yuan. Regular accumulation plans that have been successfully set up before the adjustment will continue to be executed and will not be affected. If the regular accumulation plan with an extension is expired or the customer needs to modify the regular accumulation plan, the latest accumulation amount requirements of the bank must be met.
The bank will continue to pay attention to changes in the gold market in the future and make timely adjustments to the above starting amounts and limits.
Analysts said that moderately raising the “threshold” of this business will remind investors to pay attention to potential future volatility risks to a certain extent, which will help the market return to rationality and better implement investor suitability management.
In December last year, the Agricultural Bank of China also chose to increase the starting point for deposit deposit transactions, adjusting the starting point for the fixed investment purchase of Deposit No. 2 from 450 yuan to 500 yuan. This adjustment took effect at the beginning of this year.
In fact, in recent years, with the fluctuation of gold prices, adjustments to the accumulated gold transaction threshold have occurred from time to time. A banking industry source told reporters that according to the “Interim Measures for the Management of Gold Accumulation Business” issued by the central bank, the minimum business unit of gold accumulation products is 1 gram. As the price of gold continues to rise and exceeds 500 yuan per gram, it is necessary to adjust the starting point of the accumulation amount accordingly.
Investors need to invest rationally
Industry analysts said that at present, bank deposit interest rates continue to fall and the yields of financial products are difficult to meet expectations. Many people are interested in gold’s hedging and value-preserving properties and are considering investing in gold.
A person from a rural commercial bank said that the performance of the U.S. dollar index, the level of real interest rates, inflation and risk aversion, etc., are all major factors affecting the price of gold, the most core of which are the U.S. dollar index and real interest rates. Recently, expectations for the Federal Reserve to cut interest rates have increased again, driving a breakthrough surge in gold prices. If you intend to choose the accumulation fund, it is recommended to wait until there is a certain correction before buying.
Industry insiders remind that gold prices may fluctuate violently due to geopolitical and economic factors and various emergencies. Investors need to invest rationally, grasp the rhythm of accumulation, and guard against potential volatility risks. Especially when the price of gold reaches a historical high, you cannot blindly chase the rise. Instead, you must act according to your ability and choose gold investment products that suit your financial resources and risk management level.
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2024-03-12 22:28:00
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