On October 23, Ping An Bank announced that starting from October 28, the minimum initial investment amount for the Ping An Gold Accumulation business based on the amount will be increased from 600 yuan to 700 yuan. In September, the international gold price reached a new historical high consecutively. In response to this, the second round of collective increase in gold accumulation initiated by domestic banks has also started. Currently, institutions generally remain bullish on gold.
On October 24, Caixin reported (Reporter: Peng Kefeng) The crazy gold rally continues! At noon on October 23, spot gold once broke through $2750 per ounce, setting a new historical record. In the afternoon of the same day, Ping An Bank announced that starting from October 28, the minimum investment amount for its Ping An Gold accumulation business will be raised from 600 yuan to 700 yuan according to the amount-based RSP plan.
Today, reporters found that since September, 5 large state-owned banks and multiple joint-stock banks, totaling about 10 national commercial banks, have successively raised the starting point for gold accumulation purchases.
Gold prices hit a historic high. Ping An Bank adjusted the starting point for gold accumulation purchases on the same day.
Entering the latter part of October, international gold prices continue to rise steadily in volatility, steadily breaking through the historical barrier of $2700, and repeatedly setting historical records. Yesterday at noon, spot gold once broke through $2750 per ounce, setting a new all-time high gold price record. According to reporters from Caixin, the price of spot gold has risen by over 23% since the beginning of the year.
Affected by the sharp rise in gold prices, domestic gold prices have also risen. Yesterday, information released by many gold and jewelry brands such as Chow Tai Fook and LUKFOOK Jewelry showed that the price of their pure gold trinkets has exceeded 810 yuan per gram, with some brands even reaching 815 yuan per gram.
In the afternoon of the same day, Ping An Bank announced on its official website that due to recent large fluctuations in domestic gold prices and in compliance with relevant regulatory requirements for gold accumulation services, the bank will make the following adjustments to its business: Starting from October 28, 2024, the minimum investment amount for its Ping An Gold accumulation business under the amount-based RSP plan will be raised from 600 yuan to 700 yuan. Previously set RSP plans will continue as scheduled without any impact; new and modified RSP plans must meet the bank's latest investment amount requirements.
The ping an bank will continue to monitor changes in the gold market in the future, adjust the above starting amounts and limits in a timely manner, and specific adjustment details will be separately announced through official channels such as the bank's official website. If you have any questions about this business adjustment, you can consult the bank's 95511-3 customer service hotline. Thank you for your long-standing support to ping an bank!
In September, about 10 national banks have raised the deposit institutions' points. Most banks have raised the threshold to 700 yuan.
Today, the journalist noticed that in September, the international gold price hit a consecutive historical high. As a result, the second round of collective adjustment of deposit gold by banks in China has been initiated.
On September 18th, Agricultural Bank of China became the first bank to announce an increase in the minimum purchase point for deposit gold after this round of soaring gold prices. On that day, the AgBank announced that it would adjust the purchase starting point of its Cujin Tong 2 following the fluctuation of gold prices. On September 25th, China Construction Bank announced that starting from the 27th, the minimum regular deposit starting point for individual gold deposits would be raised from 600 yuan to 700 yuan. Bank of China also announced that starting from the 27th, when purchasing deposit gold products or creating an rsp plan, the minimum purchase amount would be adjusted from 600 yuan to 650 yuan. On September 28th, Industrial and Commercial Bank of China announced that starting from October 1st, the minimum investment amount for its I Gold deposit business (i.e. the deposit starting point amount) would be raised from 550 yuan to 650 yuan.
In addition to the above five state-owned banks, the journalist also found that recently, many joint-stock banks such as cm bank, industrial bank, china zheshang bank, china everbright bank, and ping an bank have successively issued announcements adjusting the starting points for deposit gold. Among them, the starting points for china everbright bank and industrial bank are 700 yuan, while for cm bank and china zheshang bank, the starting points are 650 yuan.
It is worth noting that institutions generally remain bullish on gold. Today, china securities co.,ltd. released research reports and remains optimistic about the trend of gold. china securities co.,ltd. believes that there are at least two key supports for the upward trend in gold prices: the expected decline in real interest rates and the continuous increase in gold holdings by central banks of some major economies worldwide since 2018.
