Why did BOC Palladium 22 stop buying?
Because of the lessons learned from the "crude oil treasure" incident of China Bank, many banks announced that they would suspend business. Precious metals have risen rapidly recently. Based on risk control considerations, many domestic banks have issued notices to suspend account opening transactions for all products of Platinum-Palladium Precious Metals Index. Analysts believe that the bank's move is due to concerns about the potential risks brought about by fluctuations in precious metal prices. A number of banks suspended the opening of precious metals accounts. A number of domestic banks have issued a notice to customers to suspend the opening of precious metals accounts on the grounds that the international platinum and palladium prices have fluctuated frequently and violently recently. According to industry insiders, many banks press the "pause button" mainly because of risk considerations. Recently, the price of gold and silver has soared sharply, and the market volatility has greatly increased. Most investors don't know the expertise in precious metals. Taking ICBC as an example, customers whose risk assessment is "balanced" can invest, which undoubtedly increases the bank's attention to the risk control of its customer groups. NYMEX platinum and palladium contract units are relatively large, and the liquidity is not very good. The minimum transaction unit of bank paper, platinum paper and palladium is generally1g. If NYMEX platinum and palladium futures are used as hedging, when the price of platinum and palladium fluctuates greatly, the risk of the bank itself is relatively large. Jingchu net-crude oil treasure "sequela"? Many banks have suspended their platinum and palladium accounts to open positions. China Economic Net-Many banks suspended the opening of precious metals in their accounts to learn from the crude oil treasure incident?