China’s gold market has undergone a quiet but important structural change during 2026. Beginning in June, several major state-linked Chinese commercial banks announced that they would terminate intermediary services for retail customers trading certain Shanghai Gold Exchange (SGE)-linked precious metals contracts. From 24 July, banks including Industrial and Commercial Bank of China (ICBC), Postal Savings Bank of China, Ping An Bank and China Guangfa Bank ceased facilitating these products for individual investors. The announcements have prompted speculation that Beijing is attempting to suppress gold prices, weaken ... (full story)