Banks Realign Retail Gold Operations

As international gold prices hover around $4,200 per ounce, Nanjing Bank and CITIC Bank recently introduced fee discounts or extended them for accumulated gold products. ICBC and Bank of China previously promoted the business through per-gram fee reductions and referral rewards, while Jiangsu Bank joined earlier efforts. While the accumulated gold business continues to expand, precious metal channel services are being phased out. Industry insiders view this as a risk management measure, emphasizing long-term customer engagement and meeting demand for gold allocation.