PRECIOUS METALS | China Merchants Bank Adjusts Gold Account Spreads Amid Market Volatility

China Merchants Bank has announced an adjustment to the spreads on its gold account services due to increased market volatility. According to Jin10, starting from March 23, the bank has modified the buy-sell spread to 5 yuan per gram at the same quotation point, with the buy direction spread increasing by 2 yuan per gram while the sell direction spread remains unchanged. This adjustment is expected to be in place until June 27. From June 29, the spreads for both buy and sell directions will be adjusted to 2.5 yuan per gram. The bank's customer service explained that the adjustment, effective from 9:10 AM on March 23, was implemented due to significant fluctuations in gold prices. The changes aim to align with market dynamics, ensure transaction and operational cost coverage, and enhance the customer experience for gold account services, minimizing the impact on existing account holders.