Gold Linked Financial Products Disappear

At the end of last month, the Federal Reserve announced the end of the QE. The international gold price was hit by a heavy blow, breaking below 1200 US dollars and setting a new low of nearly 4 years.

Yesterday, a reporter interviewed found that last year's hot selling gold linked financial products were "cold", almost disappeared in the market.

Since late October, the international gold price has fallen below the key support position of 1200 US dollars / ounce and 1180 US dollars / ounce.

In November 7th, the international gold price fell again, dropping to $1130 / ounce, hitting the lowest level since July 2010.

Recently, although international gold prices have stabilised, they have been hovering below the $1200 level.

Reporters observed that gold sales were cold while gold and related products were also no longer in sight.

"The price of gold has fallen sharply in recent years, and investors are still more cautious about gold related products."

Financial manager of a bank in Xi'an high tech Zone said that gold investment in banks mainly includes physical gold, paper gold and T+D channels.

In addition, in order to share the cost of purchase, many banks have pushed gold to invest.

"But the impact of falling gold prices is whether it is buying physical gold or paper gold or gold.

The number of customers is significantly less than the previous two years ".

Investor pairs

More and more prudent, this has also made banks adjust the design of financial products, and all kinds of financial products sold by banks in the past two years are almost extinct.

Yesterday, reporters asked the bank to sell information on financial products, and did not find a gold linked product on sale.

"We haven't released this product for a long time, because now there is no market."

The lobby manager of a state-owned bank said that in the first two years, the bank offered 1~2 gold products every week. Most of the products in these products could be more or less empty.

Investors need to have their own judgement on the future trend of international gold prices when buying.

"However, the current gold price is decadent, and the risk of buying such financial products is increasing, so most banks have cancelled the financial products linked to gold."

Last year, a total of 5 Chinese banks launched 100 gold deposits linked to financial products.

The revenue types of these gold financial products are basically guaranteed floating income, and the selling point is generally more than 100 thousand yuan. The investment period is mostly within 3 months or 3 months, and the expected annual yield is between 3% and 6%.