Multiple Banks Implement Accumulation Gold Purchase Limits; Experts: Insufficient Upward Momentum, Weak Pace

Everyday Economic News Reporter: Pan Ting Editor: Wen Duo

Recently, as international gold prices remain volatile at high levels, market risks have increased. Several banks have quickly adjusted their gold savings trading rules. China Construction Bank, Industrial and Commercial Bank of China, and others have implemented daily total quota management for gold savings products. Once the quota is exhausted, purchases cannot be made for the day.

Since 2025, multiple banks have repeatedly raised the minimum purchase threshold for gold savings to between 1,300 and 1,500 yuan. The reporter noted that unlike previous direct increases in the minimum purchase amount, this round of adjustments has shifted to a “dynamic quota” system.

“Construction Bank has implemented dynamic trading limits for Jianhang Gold (including Easy Save Gold).” Image source: webpage screenshot

Multiple banks announce quota management for gold savings business

Bank gold savings business involves investors opening a gold savings account at a bank and signing a savings agreement. Investors can choose to save regularly or actively, purchasing shares of gold-backed savings products, which entitle them to exchange for various physical precious metals. Investors can either redeem their holdings for cash or exchange them at bank sales outlets for various physical precious metal products.

On March 3, China Construction Bank announced that, to further strengthen risk prevention, it has implemented dynamic trading limits for Jianhang Gold (including Easy Save Gold). Additionally, due to rapid growth in physical precious metal purchases, starting March 3, 2026, delivery orders will have an extended shipping time of 10-15 working days after the order is placed (no shipments on holidays).

The day before, China Construction Bank warned that recent fluctuations in domestic and international precious metal prices have intensified, significantly increasing market risks. Investors are advised to enhance risk awareness when investing in precious metals, invest rationally and prudently based on their financial situation and risk tolerance, maintain balanced and moderate allocations, and control positions reasonably to avoid blindly following market trends. They should also monitor their holdings and margin balances in a timely manner to prevent market risks.

The Daily Economic News reporter noted that China Construction Bank is not the first commercial bank to announce quota management for gold savings. In January, Industrial and Commercial Bank of China took the lead in adjusting its gold savings-related business.

On January 30, ICBC announced that starting February 7, 2026, on weekends and legal holidays (non-trading days of the Shanghai Gold Exchange), it will implement quota management for the Ruyi Gold Savings business. Quota types include total or single-client daily savings/redemption limits, single transaction limits, and dynamic settings. Gold withdrawal is unaffected.

In addition to quota management, some banks have indicated they may implement “temporary market closures” based on market conditions.

On February 28, Zheshang Bank issued a notice stating that if there are significant abnormal fluctuations in gold prices, liquidity dries up, or trading capacity declines sharply, the bank may temporarily close its wealth gold savings business. During closure, transactions such as gold buying, selling, and physical gold exchanges will be suspended.

Experts: Insufficient upward momentum, weak pace

Since the beginning of this year, international gold prices have been highly volatile. At the end of January, New York gold prices first broke through $5,500 per ounce, then entered a correction phase, and have been declining since March 11. As of the time of writing, gold prices in New York hover around $5,000.

Many financial institutions have already attempted to cool the hot market, warning clients to “exercise caution when investing in precious metals” and “enhance risk awareness.”

Since 2025, multiple banks have repeatedly raised the minimum purchase threshold for gold savings to between 1,300 and 1,500 yuan. For example, ICBC has issued at least six notices raising the threshold from 650 yuan to 1,300 yuan; Bank of China has made six similar announcements, increasing the threshold from 650 yuan to 1,200 yuan; Industrial Bank has also announced multiple increases, raising the minimum purchase from 900 yuan in September 2025 to the recent 1,400 yuan; China Construction Bank also raised the starting amount for personal gold savings to 1,500 yuan in February.

What does the market expect for future gold prices? Cao Shanshan, senior researcher at COFCO Futures Research Institute, believes that since 1970, gold prices have experienced two complete bull-bear cycles. Currently, the market is in the third phase of the third bull market cycle. Geopolitical conflicts serve as core risk events, providing upward momentum for gold prices, and this phase has a clear rhythm pattern.

“With the unexpected easing of conflicts between the US, Israel, and Iran… market risk aversion has cooled, and the pace of gold price increases has prematurely ended,” Cao said. She explained that global monetary policy tightening has exceeded expectations, suppressing the gold bull cycle, weakening conflict-driven risk premiums, and disrupting the original rhythm. Additionally, increased oil supply has offset some demand, reducing the linkage effect on oil prices, resulting in insufficient impulse and a weak pace for gold price increases.

Daily Economic News