Recently, SPD Bank issued an announcement that it will choose to stop operating personal precious metals services on behalf of the Shanghai Gold Exchange after September 25, and that trading rights for channels such as mobile banking, online banking, and branch counters will be simultaneously closed. This is not an exception. Since this year, a number of banks have announced adjustments to their personal precious metals agency business one after another, from raising the margin ratio and raising the transaction threshold, to directly shutting down individual transaction channels, and stepping up the pace step by step. Dong Ximiao, chief economist of CMB and executive director of the Shanghai Finance and Development Laboratory, pointed out that the impact of fluctuations in gold prices this year is very intuitive. “In this round, many banks concentrated on shutting down personal precious metals leveraged trading services. The direct trigger was the rapid decline in gold prices from a historical high of nearly 5,600 US dollars/ounce to below 4,000 US dollars in 2026, a drop of nearly 30% over several months. Large fluctuations in gold prices amplify the risk of losses in leveraged transactions, and banks are under double pressure from customer defaults and reputational disputes.” An industry insider also further dismantled the pressure on banks from a risk control perspective. He said, “Since this year, international gold prices have fluctuated sharply, falling from a high point of more than 1,400 US dollars per ounce during the year. Individual investors are extremely easy to close their positions in leveraged transactions. Banks, as members of the Stock Exchange, are responsible for clearing and advance payments, and the risk exposure is huge. Combined with stricter regulations and customer dispute pressure, banks chose to directly suspend operations according to market conditions to completely isolate risks.”

Recently, SPD Bank issued an announcement that it will choose to stop operating personal precious metals services on behalf of the Shanghai Gold Exchange after September 25, and that trading rights for channels such as mobile banking, online banking, and branch counters will be simultaneously closed. This is not an exception. Since this year, a number of banks have announced adjustments to their personal precious metals agency business one after another, from raising the margin ratio and raising the transaction threshold, to directly shutting down individual transaction channels, and stepping up the pace step by step. Dong Ximiao, chief economist of CMB and executive director of the Shanghai Finance and Development Laboratory, pointed out that the impact of fluctuations in gold prices this year is very intuitive. “In this round, many banks concentrated on shutting down personal precious metals leveraged trading services. The direct trigger was the rapid decline in gold prices from a historical high of nearly 5,600 US dollars/ounce to below 4,000 US dollars in 2026, a drop of nearly 30% over several months. Large fluctuations in gold prices amplify the risk of losses in leveraged transactions, and banks are under double pressure from customer defaults and reputational disputes.” An industry insider also further dismantled the pressure on banks from a risk control perspective. He said, “Since this year, international gold prices have fluctuated sharply, falling from a high point of more than 1,400 US dollars per ounce during the year. Individual investors are extremely easy to close their positions in leveraged transactions. Banks, as members of the Stock Exchange, are responsible for clearing and advance payments, and the risk exposure is huge. Combined with stricter regulations and customer dispute pressure, banks chose to directly suspend operations according to market conditions to completely isolate risks.”