China Merchants Bank: Increasing the spread of gold accounts is to cope with market fluctuations and cover operating costs.

Recently, China Merchants Bank announced an adjustment in the spread for its gold account business. Due to increased volatility in the gold market, in order to prevent related risks, starting from March 23, the buying and selling spread for the bank's gold account business at the same quote will be adjusted to 5 yuan/gram. The buying spread will increase by 2 yuan/gram, while the selling spread will remain unchanged. The adjusted spread plan is expected to be in effect until June 27. From the market opening on June 29, China Merchants Bank's gold account business will adjust the buying and selling spreads at the same quote to 2.5 yuan/gram each. Regarding the reason for the adjustment, the customer service of China Merchants Bank responded that the adjustment took effect after 9:10 am on March 23, and it was due to the significant increase in volatility of gold prices in recent times. The bank made the adjustment in response to market changes and to ensure the covering of operational costs, aiming to optimize the customer experience of the gold account business and minimize the impact on existing clients holding positions.