Futures
Access hundreds of perpetual contracts
TradFi
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
Launchpad
Be early to the next big token project
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
The release of this rule originated from the weekend at the end of January when gold prices plummeted. Cai Bai's buyback was all conducted at the Friday closing price of over 1190. As a result, gold prices crashed on Monday morning, and by that evening, this rule was already in place the next day. On February 6th, multiple roads in Beijing began hanging New Year lanterns. Mr. Huang arrived at the main entrance of Cai Bai Jewelry Store in Xicheng District, sweeping aside the heavy windproof curtain and heading straight to the third floor of this gold and jewelry shop. He hurriedly told his wife behind him that gold buyback was no longer on the fourth floor! The third floor of Cai Bai Jewelry originally specialized in jade and coral accessories, while the fourth floor was the trading area for investment gold. However, recently, too many people were selling gold, so the gold buyback business was moved from the fourth to the third floor, where a temporary "verification area" was set up. At 10 a.m., half an hour after opening, the buyback line quickly formed a long queue. Staff members held a sign at the end of the line that read "Buyback Verification Queue End," creating a lively scene comparable to the gold purchasing area on the fourth floor. This was the first day after Cai Bai Jewelry implemented the new rules for adjusting gold buyback operations. On February 2nd, Cai Bai Jewelry's parent company, Cai Bai Co., Ltd. (605599.SH, hereinafter referred to as "Cai Bai"), issued an announcement titled "Adjustment of Precious Metal Buyback Business Rules," stating that starting from February 6th, the processing time and transaction limits for buyback services across all channels (including physical stores and online channels) would be adjusted. The adjustments mainly involved two aspects: first, time restrictions, clarifying that on non-trading days such as Saturdays, Sundays, and statutory holidays, the precious metal buyback services would be suspended in accordance with the Shanghai Gold Exchange (hereinafter referred to as "SGE"); second, quota management, setting daily limits during available trading hours.