Gold prices are volatile, and banks collectively raise margins for precious metal products.

According to Securities Times, on June 22, Guangfa Bank, Huaxia Bank, and Bank of China successively announced an increase in the margin ratio for individual precious metal delayed trading contracts on the Shanghai Gold Exchange. This is another round of tightening leverage in precious metal trading by banks since June. It was reported that on June 2, Construction Bank and Industrial and Commercial Bank were the first to raise the margin ratio for delayed contracts for gold and silver from 100% to 120%; Agricultural Bank followed suit. On June 16, China Merchants Bank also adjusted the margin ratio for several contracts to 120%. In February of this year, major banks such as Industrial and Commercial Bank, Agricultural Bank, and Construction Bank had already uniformly raised the margin ratio from 80% to 100%, and the market generally believed that the relevant contracts had completely "deleveraged".