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China moves again to restrain public's demand for gold
Chinese Banks Raise Purchase Thresholds for Gold Products in Warning to Retail Investors
By Xia Yining and Kelsey Cheng
Caixin Global, Beijing
Saturday, March 30, 2024
At least six Chinese banks have raised investment thresholds for their gold savings accounts, in an attempt to warn retail investors of potential risks amid a price rally and growing demand for the safe-haven asset.
Starting Friday the Agricultural Bank of China Ltd. increased the minimum investment to 550 yuan ($76) from 500 yuan for one of its gold deposit products, according to a March 22 notice.
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The adjustment comes less than three months after the bank last raised the subscription threshold in early January. ...
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