China Everbright Bank to halt personal precious metals brokerage from Oct. 19; over 10 Chinese banks exit "gold trading" channel this year - finance.biggo.com

AI desk brief

China Everbright Bank will halt personal precious-metals brokerage on the Shanghai Gold Exchange from Oct. 19, adding to a wave of more than 10 Chinese banks that have exited or tightened the retail “gold trading” channel since the start of 2026. The article says banks are either suspending agency trading outright or lifting margin ratios sharply; ICBC, for example, raised standard margin to 140% in June and then 190% in July, effectively stripping out leverage from personal deferred contracts.

The move follows extreme 2026 gold volatility, with spot gold reportedly surging to about $5,590/oz in late January before falling below $4,000/oz by late June, and posting frequent daily swings above 5% since September. Non-leveraged products such as gold accumulation plans, physical bars, ETFs and paper gold remain open, while leveraged retail demand is being pushed toward futures venues with higher suitability requirements.