China Everbright Bank said it will stop handling Shanghai Gold Exchange (SGE)
retail precious‑metals agency business from Oct 19. The bank‑mediated retail
product included leveraged deferred spot contracts, which the announcement cited
as higher‑risk. An industry source said the stoppage was initiated by the SGE;
since the exchange proposed and formally confirmed ending bank agency for this
business, customers can no longer buy these products through banks and banks are
in the process of liquidating existing positions. More than 10 banks have
announced they will cease the service; consigned physical gold sales remain
unaffected.
