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How to treat the suspension of opening precious metals accounts by many banks?
Banks are worried about the potential risks brought by the fluctuation of precious metal prices. After the crude oil treasure incident that sensationalized the whole country some time ago, domestic banks have become more cautious in dealing with the fluctuations in commodity and precious metal markets. However, relevant people also pointed out that although precious metals will face adjustment pressure in the short term, the long-term rising pattern remains unchanged.

Among them, ICBC suspended the opening trading of all products of account platinum, account palladium and account precious metal index from 0: 00 on July 3rd. Bank of Communications also suspended the new account opening transactions of bookkeeping platinum and bookkeeping palladium from 9: 00 am on July 22nd.

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Precautions:

Judging from the overall trend of precious metals, in the context of monetary easing and fiscal stimulus in Europe and the United States, inflation expectations have rebounded sharply, and there is a high probability that the real interest rate level in the United States will continue to slump in August.

Under the influence of the epidemic, the performance of the real economy in the United States is relatively backward, the fiscal deficit is high, the negative spillover effect of monetary policy appears, and the US dollar index will further weaken. The allocation value of gold as a de-dollarization asset is prominent, or it will benefit from the weakening of the US dollar and the market demand for safe haven to gain more room for growth.

For domestic precious metals investment investors, besides bank account transactions, investment channels also include gold futures, gold spot, gold funds, gold stocks and gold financial derivatives.

For investing in futures and gold bars, because futures trading involves leverage trading, the potential profits are magnified and the risks are greater, so it is more suitable for professional investors, while investing in gold bars has the characteristics of high potential transaction cost and unsuitable storage.

Baidu Encyclopedia-Account Precious Metals

People's Network-"Sequela of Crude Oil Treasure"? Some banks suspended their platinum and palladium accounts.