Editor’s Note
This article reports on a significant policy update from China Gold Jewelry, a major retailer, regarding its precious metal buyback rules across all sales channels. The change is likely to impact consumers and reflects broader trends in the gold retail market.
China Gold Group Gold Jewelry Co., Ltd. (hereinafter referred to as “China Gold Jewelry”) issued an announcement on its official WeChat account on February 6, adjusting the rules for precious metal buyback business across all channels (including offline stores and online platforms) under the “China Gold” brand.
First, starting from February 7, the precious metal buyback service will be suspended on Saturdays, Sundays, and statutory holidays—periods when the Shanghai Gold Exchange is closed.
Second, also effective February 7, buyback services during business hours will be subject to quota management, including but not limited to daily cumulative buyback limits per single customer and maximum limits per single transaction. An appointment system will also be implemented.
Apart from China Gold Jewelry, leading brand gold retailer Caibai Co., Ltd. also announced adjustments to its precious metal buyback business on February 2. It will suspend buyback services during non-trading days of the Shanghai Gold Exchange and implement quota management for its buyback operations.
Recently, influenced by multiple factors, precious metal price volatility has significantly intensified, with uncertainty continuing to rise.
Furthermore, major commercial banks have recently made corresponding adjustments to their gold accumulation businesses. On January 30, the Industrial and Commercial Bank of China (ICBC) announced that starting February 7, during weekends and statutory holidays when the Shanghai Gold Exchange is closed, the bank will implement quota management for its “Ruyi Gold” accumulation business. The quotas include daily accumulation/redemption limits for all customers or single clients, maximum limits per single accumulation or redemption transaction, and will be dynamically set. Physical gold withdrawals are not affected.
