On November 27, ICBC, CCB, Agricultural Bank Of China, China Merchants Bank, Bank of Communications and Ping an Bank issued a notice today.The account will be suspended to sign and open a precious metal account.
Agricultural Bank Of China of China announced that due to the changes in the global political and economic situation, the recent price fluctuations in the international precious metal market have increased, and the risk of individual customer trading precious metals business has increased. In order to protect the interests of investors, our bank is scheduled to suspend the precious metal trading business of our account and sign and open an account on behalf of the individual precious metal trading business of the Shanghai Gold Exchange from November 28th, and the normal trading of the customers who have opened the account will not be affected. Please know and pay close attention to the market risk, carry out trading cautiously and control the position reasonably.
China Merchants Bank announced that the recent changes in the global political and economic situation, the precious metals market price risk and liquidity risk intensified, market risk and uncertainty significantly increased, personal precious metals trading business investment trading risk increased.
In order to guard against business risks and protect the rights and interests of investors, we will make the following arrangements for the retail precious metals trading business: starting from November 28th, we will suspend the application for new customers of our bank's various channels (including counter, mobile banking, online banking, Zhaoyin Huijin App, etc.) to open trading accounts for two-way paper gold and silver, solid paper gold and silver, and wealth promotion business (acting for Shanghai Gold Exchange business). The normal transactions of customers who have opened accounts will not be affected.
Bank of Communications announced that recently, under the influence of the international political and economic situation and the COVID-19 epidemic, the price of the precious metal market fluctuated sharply, and the risk of investment transactions increased. In order to protect the rights and interests of investors, from 12:00 on November 28th, Beijing time, we will suspend bookkeeping precious metals and personal precious metals agents to postpone trading and open accounts for new customers of Jinbao business. Please pay full attention to the risk of price fluctuations in the precious metal market, carry out relevant investment transactions prudently and rationally, and do a good job in risk control.
China Construction Bank Corporation issued a notice saying that due to the COVID-19 epidemic and global political, economic and other factors, the recent fluctuation of precious metal prices in the international market has intensified, and the risk of precious metals trading business of account precious metals (including two-way trading) and acting individuals has increased. Please improve your awareness of risk prevention, reasonable control of positions and rational investment. In order to effectively protect the rights and interests of investors, we have suspended the signing and opening of precious metals accounts (including two-way trading) and the precious metals trading business of individual SSJI from November 30.
Industrial and Commercial Bank of China announced that recently, under the influence of the global epidemic and the international political and economic situation, international and domestic precious metal prices have continued to fluctuate greatly, and market risks and uncertainties have increased significantly. In order to protect the rights and interests of investors, we will make the following arrangements for individual gold and silver trading business. Please know:
1. From 24:00 on November 28th, Beijing time, all channels of our bank (including counter, mobile banking, online banking, ICBC e investment) will be suspended. New customers of gold and silver business will open trading accounts, the normal transactions of customers who have opened accounts will not be affected.
2. Starting from 9:00 on November 28th, Beijing time, we will suspend the acceptance of applications from various channels of our bank (including counters, mobile banking, online banking, "ICBC connoisseur" Mini Program and external cooperation agencies, etc.) for new bidding trading applications for individual clients, and the normal transactions of customers who have opened accounts will not be affected.
Third, affected by the epidemic and other complex factors, the risk of the precious metal market is relatively high at present, reminding you to reasonably control the size of your position, make good trading arrangements, raise your awareness of risk prevention, and pay attention to risk control.
In addition, Ping an Bank said that in order to further strengthen the risk management of the agency precious metals business and provide better services, we plan to optimize and upgrade the agency precious metals business system. The system will suspend the new account opening function of the business after the market closes on December 1, 2020, and the stock customer business processing will not be affected for the time being.
It is worth noting that according to the October 2020 market report released by the Shanghai Gold Exchange, the top 10 banks in total gold trading volume are Pudong Development Bank, ICBC, Bank of China, Ningbo Bank, Ping an Bank, Bank of Beijing, JUMP TRADING, Agricultural Bank Of China, China Merchants Bank and Bank of Shanghai. The first Pudong Development Bank ranked first in total trading volume of 240565.75 kg, accounting for 10.44%, as of press time. Pudong Development Bank has not yet issued a notice to suspend related business.
