Gold Prices Hover at High Levels as Bank Gold Wealth Management Issuance Plunges, while Gold Accumulation Business Heats Up

On October 28, spot gold in London fluctuated near the $4,000 mark. Within the past week, gold prices dipped to as low as $3,975.49 per ounce, hitting a new low since August and retreating nearly 30% from the year's peak. Amid high-level volatility in gold prices, the pace of bank gold wealth management product issuance has slowed markedly, and product yields have diverged, while gold accumulation business has grown against the trend. Statistics show that in the first half of the year, several wealth management companies collectively launched nearly 50 gold wealth management products, while in the second half, there was at one point only one. (Securities Times)