On February 11th, as gold prices continue to rise, some commercial banks have lowered interest rates related to their gold account business (also known as “deposit gold”, hereinafter referred to as “deposit gold”). Recently, China Merchants Bank announced that it plans to adjust the interest rates related to its gold account business from February 12, 2025, involving gold account current products, as well as gold account fixed-term products such as three-month, six-month, nine month, and one-year terms. According to the reporter’s analysis, compared to the current implementation rate, the interest rate of the above-mentioned products will decrease by 9 basis points to 30 basis points. The interviewed experts told reporters that banks have lowered their deposit related interest rates mainly to cope with the market risks brought by the rise in gold prices and optimize their own capital cost and return structure. (Securities Daily)
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