Bank of Communications Announces Closure of Precious Metals Agency Services for Individuals on Shanghai Gold Exchange

Deep News06-30

In a recent financial update, Bank of Communications has issued a public notice regarding the closure of its precious metals agency services for individual clients on the Shanghai Gold Exchange. This decision is based on the bank's risk management requirements and operational needs within the precious metals business.

The bank has outlined the specific arrangements for this closure. Effective from the end-of-day clearing on Friday, July 24, 2026, the bank will deactivate the precious metals agency service function for individual clients on the Shanghai Gold Exchange. This action will affect a range of contract types, including Au99.99, Au100g, Au99.95, PGC30g, Au(T+D), mAu(T+D), and Ag(T+D). Following the shutdown, existing clients holding positions or physical inventory will be unable to perform operations such as closing positions, selling, or withdrawing physical metal through channels including mobile banking and online banking.

Bank of Communications advises clients with existing positions or physical inventory to promptly utilize channels like mobile banking and online banking to close out or sell their various held trading contracts. Furthermore, clients are encouraged to withdraw any remaining funds from their margin accounts.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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