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🚨BREAKING: CHINESE BANKS WITH OVER $10 TRILLION IN ASSETS SHUT DOWN RETAIL GOLD TRADING.
$7.6T ICBC, the world's largest bank by assets, will stop offering individual trading in precious metals linked to the Shanghai Gold Exchange from July 24.
Three other major banks, inluding Postal Savings Bank, Ping An Bank, and China Guangfa Bank have made similar moves.
After July 24, clients will no longer be able to open new trades and can only close positions.
Banks are tightening risk controls after gold crashed nearly 30% from its record highs.
$XAU
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