Chinese banks raise margin requirements and cease retail trading on Shanghai Gold Exchange

State-owned Chinese banks have sharply increased margin requirements for retail investors trading gold and silver contracts on the Shanghai Gold Exchange, with ratios climbing to as high as 140 %. Huaxia Bank, Guangfa Bank and the Bank of China announced adjustments between June 22 and June 24, 2026, raising personal deferred‑metal contracts to 120‑140 % margins.

At the same time, major lenders are winding down agency services for individual clients. ICBC said it will stop providing retail bidding and trading permissions on the exchange after the clearing session on 24 July 2026. Earlier exits by Postal Savings Bank of China, Ping An Bank and China Guangfa Bank have already forced clients to close positions or face forced liquidation. The coordinated pull‑back aims to curb speculative leverage, reduce market volatility and protect retail participants, but it is expected to limit liquidity, pressure gold and silver prices downward and shift activity toward institutional buyers and physical gold products.