Recently, gold prices have once again entered an upward trend. As of the time of press release on November 13th, the spot gold price has exceeded $4200 per ounce, with an increase of over 60% since the beginning of this year. Amidst the hot market, multiple banks have continued to adjust their rules for deposit business. Industry insiders believe that this move may reflect the bank's cautious attitude towards risk management. The reporter visited bank branches and found that due to market conditions and adjustments in gold tax policies, the deposit business has been well received by investors. Experts remind investors to pay attention to the risk of high volatility in gold prices and avoid betting solely on the gold market. On November 11th, China CITIC Bank announced that in order to adapt to changes in the market situation, the bank will adjust the minimum fixed investment amount for its regular deposit plan from 1000 yuan to 1500 yuan starting from November 15th. In fact, this is a continuation of the action taken by commercial banks this year to raise the threshold for deposit business. Starting from October 13th, the minimum investment amount (i.e. the accumulation threshold amount) for Industrial and Commercial Bank of China's Ruyi Gold Accumulation Business has been raised from 850 yuan to 1000 yuan. On October 21st, Industrial Bank of China announced an adjustment to the purchase threshold amount for current and regular fixed-term deposits based on the amount. When trading based on the amount, the purchase threshold for single purchases and new fixed investments will be adjusted from 1000 yuan to 1200 yuan. In addition, China Construction Bank announced a huge redemption rule in its announcement on November 11th. If the cumulative net redemption applications (including redemption sales) of all customers in a single day exceed 20% of the total accumulated balance of China Construction Bank on the previous trading day, it will be considered a huge redemption. In the event of a huge redemption, China Construction Bank has the right not to accept applications for redemption (including exchange and sale) exceeding the limit. If there is a huge redemption for two or more consecutive trading days (including), China Construction Bank has the right to suspend redemption transactions (including exchange and sale) on the next trading day. Dong Ximiao, Chief Researcher of China Merchants Association, stated that the international gold price has experienced significant fluctuations recently, leading to a significant increase in market risks and uncertainties. Banks have introduced measures such as raising the threshold for deposit business and setting redemption restrictions, aimed at screening customers with stronger risk tolerance, which helps prevent liquidity risks from concentrated redemptions, reduce liquidity pressure and loss risks faced by themselves during severe market fluctuations, and ensure the smooth operation of business. On November 13th, investors actively participated. The reporter visited a branch of China CITIC Bank in Daxing District, Beijing and a branch of China Construction Bank in Xicheng District, Beijing to understand the development of deposit business. Customer managers from China Construction Bank and CITIC Bank both told reporters that the gold price has risen well this year, and the deposit business has been highly sought after by investors. A major highlight of this business is that investors can buy a certain amount of accumulated gold and convert it into physical gold. Recently, many customers have come to the branch to inquire about the deposit deposit business, and the inquiries mainly focus on transaction fees and the extraction process of physical gold. The reporter noticed that on November 1st, the Ministry of Finance and the State Administration of Taxation issued a notice on tax policies related to gold. Zhang Lin, Vice President of Far East Credit Research Institute, told reporters that the core of the announcement lies in the key distinction between two aspects of taxation. Firstly, there is a distinction between trading venues. Standard gold traded on the exchange is still essentially exempt from value-added tax, while physical gold trading off the exchange is not eligible for tax exemption and is subject to a 13% value-added tax rate. In addition, in terms of trading purposes, when it comes to investment purposes, downstream investors can only receive regular invoices when purchasing gold from member units. This means that the tax burden on purchasing gold cannot be deducted downstream, blocking the deduction chain and increasing the cost of holding and trading. Zhang Lin believes that due to convenient trading and transparent costs, gold investment products that do not require physical withdrawal (such as gold accumulation accounts, gold ETFs, and paper gold) are becoming increasingly attractive to ordinary investors. Zhang Lin gave advice on asset allocation for current gold investment. He believes that investors should recognize the strong correlation between the current rise in gold prices and the weakening of the US dollar, and therefore need to pay attention to the trend of the US dollar and the related influencing factors. At the same time, although from a medium to long term perspective, the rise in gold prices is still supported by risk aversion factors and central bank holdings, in the short term, gold prices are rapidly rising, and long positions are already very crowded, resulting in significant market volatility risks. He suggested that investors diversify their risks through multi asset allocation and avoid placing a single bet on the gold market. Dong Ximiao stated that in the foreseeable future, gold's attributes as a safe haven asset will remain strong, and international gold prices will still have some support, but the volatility of gold prices at high levels will intensify. Investors should closely monitor market changes, allocate gold and related products reasonably based on their own risk preferences and investment needs, control their investment positions rationally, and not blindly chase after gains and losses. Investors should be aware of China Construction Bank's latest "massive redemption" clause, recognize that in extreme market conditions, redemption applications may be delayed or partially rejected, and manage liquidity accordingly. At the same time, rules can be used to optimize the experience, and longer trading times and order validity periods provide more operational flexibility that investors can make good use of. (New Society)