SEVERAL Chinese banks have sold out their gold products after surging prices of the safe-haven asset fueled investors’ enthusiasm. On the app of Industrial and Commercial Bank of China (ICBC), Ruyi Gold bars of 5 grams, 20 grams, 50 grams, 100 grams, and 200 grams are out of stock, with only the 10 gram option low in stock. The gold spot price at the London Stock Exchange rose over 1% to an all-time record of US$2,942.71 per ounce Tuesday, marking the eighth time this year that the price of the precious metal hit a new record. The 10 gram and 20 gram Chuan Shi Zhi Bao gold bars of Agricultural Bank of China (ABC) are sold out on the lender’s app, and the 100 gram and 200 gram ones are on a tight inventory. Meanwhile, the China Construction Bank (CCB) app shows that only the 50 gram and 100 gram investment gold bars are available, priced at 688.8 yuan (US$94.23) per gram. Gold bars on the apps of Postal Savings Bank of China and Bank of China are available for presale, with unspecified time of delivery. A China Gold store in Shanghai said that it sold out the 100 gram gold bars before the Chinese New Year holiday started at the end of last month, with only smaller bars available for sale at the moment. “Even though gold prices may continue to rise in the short term, the related risks are also likely to gradually accumulate,” said Wu Dan, a researcher at the Bank of China Research Institute, as quoted by news outlet Yicai. “Investors need to consider different strategies, such as portfolio diversification, to effectively mitigate risks based on their individual investments.” The fixed returns on gold investments are showing a downward trend, said Wang Pengbo, a renowned analyst of the banking and payment sector. For conservative investors, Wang recommended choosing more stable investment methods, such as gold accumulation plans. By regularly investing a fixed amount to purchase gold, investors can effectively average costs and reduce risks from short-term price fluctuations, he explained. (SD-Agencies) | 