On September 27, Caixin reporters (Cao Yunyi) reported that starting today, many state-owned banks have intensively raised the minimum purchase price for accumulated gold. According to Caixin reporters' statistics, within 10 days, 4 banks have already adjusted the threshold for gold accumulation investments, and the reasons behind it are closely related to the repeatedly hitting historical highs of international gold prices.

Industry insiders told Caixin reporters that financial institutions adjust the minimum investment amount for gold regular investment following changes in gold prices to comply with regulatory rules, and it is expected that more financial institutions will follow suit. For investors, gold is currently at a historically high level, with many uncertain factors affecting the trend of gold prices. The Fed's rate cut cycle will constrain the short-term interest rates of U.S. bonds and the upside of the U.S. dollar, reducing the appeal of gold in the rate environment, but attention should be paid to the differences between this round of Fed rate cuts and the shift to ease.opportunity costinterest, rate environment favors gold, but caution is needed regarding the differences between this round of Fed rate cuts and the shift to ease.

Many banks are intensively raising the threshold for accumulated gold.

Bank of China announced that starting from September 27, when purchasing accumulated gold products or creating accumulated regular investment plans based on amount, the minimum purchase amount has been adjusted from 600 yuan to 650 yuan, and the additional purchase amount remains at 200 yuan multiples. Existing regular investment plans are not affected. When purchasing accumulated gold products or creating regular investment plans based on weight, the minimum purchase weight remains 1 gram, and the additional weight remains at 1 gram multiples.

This is the fourth bank to adjust the minimum purchase requirements for accumulated gold in the past 10 days. Just on September 25, China Construction Bank announced that starting from September 27, the minimum regular investment amount for individual gold accumulation business will be raised to 700 yuan. On September 24, Industrial Bank announced its plan to raise the purchase starting point for accumulated gold current and ordinary fixed-term transactions based on amount, for amount transactions, the starting point for single purchase and additional regular investment purchase has been adjusted from RMB 600 to RMB 700; for weight transactions, the single purchase and additional regular investment purchase starting point remains 1 gram. And on September 18, Agricultural Bank announced the adjustment of the starting point for accumulated gold purchases to float with the gold price, becoming the first bank this year to link the purchase point of accumulated gold to gold price fluctuations.

The reason why banks have raised the minimum purchase amount for this business is mainly due to the consecutive increase in the price of gold. On the 26th, COMEX gold broke through $2700 per ounce, reaching a historical high, up more than 0.6%. Since the minimum unit of gold accumulation products is 1 gram, the starting point also needs to be adjusted accordingly.

China Construction Bank also stated in its announcement that the adjustment is mainly to adapt to market changes. They will continue to monitor changes in the gold market and adjust the above starting amounts and limits in a timely manner.

Zhou Maohua, a macro researcher at the financial market department of China Everbright Bank, told Caixin reporters that some banks have recently adopted a practice of linking prices to gold, which may be related to the increased volatility of international gold prices in recent years. Changing to a floating price linkage helps improve trading convenience. "Some financial institutions adjust the minimum investment amount for gold regular savings in accordance with regulatory requirements related to gold price changes. It is expected that other financial institutions will follow suit. At the same time, some banks have raised the starting amount for gold accumulation, mainly in response to the rise in gold prices, corresponding to an increase in the minimum investment amount for gold."

Bullish market outlook on the short-term trend of gold. Investors need to be cautious.

While adjusting the minimum purchase amount for gold accumulation, China Construction Bank also issued a notice regarding recent market risk warnings for precious metals trading business, mentioning the intensified fluctuations in domestic and foreign precious metal prices recently, leading to increased market risks. Users are advised to enhance risk awareness in personal gold accumulation and other precious metals trading businesses, manage positions reasonably, timely monitor positions and changes in margin balance, and invest rationally.

Zhou Maohua points out that generally, in the case of significant fluctuations in gold prices, gold accumulation investment is relatively safer than short-term investments, and the more gold accumulated, the better for long-term investments. Precious metal accumulation is suitable for ordinary investors as it has a low investment threshold, helps smooth market fluctuations, reduce investment risks, and investors can achieve relatively stable returns; at the same time, buy and sell operations are more flexible.

Looking ahead, Huaxi Securities stated that the usa economy is showingBut after the bursting of the internet bubble and the Fed's rate cut in 2001, the ROI dropped by more than 10%.Expectations, but the rate cut magnitude and pace are not conservative. Based on this logic, the expectation of secondary inflation is heating up. The cost of holding gold is decreasing under the expectation of lower interest rates. Gold becomes the best hedge tool against the accelerated inflation in 2025. This logic supports the short- to medium-term continuation of record highs for the gold price.

"Currently, gold is at historically high levels, with many uncertainties affecting the price trend of gold. The Federal Reserve's rate cut cycle will constrain the short-term interest rates of U.S. bonds and the upside of the U.S. dollar, reducing the opportunity cost of holding gold. The interest rate environment is somewhat favorable for gold, but attention needs to be paid to the differences between this round of Federal Reserve rate cuts and the shift to loosen policy." Zhou Maohua also mentioned that risk aversion sentiment, global central bank demand for gold, and the direction of the U.S. dollar still have uncertainties influencing the gold price trend. There is a high demand for professionalism from investors. From the perspective of conservative investment, investors need to invest rationally, diversify their investment portfolios, grasp the pace of accumulation, and guard against potential volatile risks.