After the successful simulated precious metal trading competition in the last year, Industrial Bank (IB) will release the real trading competition in this year. From March 1 to May 31, the bank will hold 2013 First Precious Metal Firm Offer Trading Competition, which covers seven types of precious metals: Au100g, Au99.99, Au99.95, Au (T+D), Au (T+N1), Au (T+N2), and Ag (T+D). All participants will be ranked according to the trading points. The winners will have opportunities to receive substantial awards such as gold Ruyi and gold Yuanbao.
It is reported that the competition has the following two characteristics: First, substantial awards. Five categories of prizes are set, including 195 awards, and such substantial gifts as gold Ruyi, gold Yuanbao and gold key will be presented on a regular basis. Second, a variety of trading channels. There are altogether six channels for trading and competition. In particular, the “Inter-bank Precious Metal Trading Platform” (http://www.cib.com.cn/netbank/cn/Personal_Banking/Internet_financing_platform.html) released jointly by IB and ChinaPay E-payment Service Co., Ltd allow those who are not customers of IB to open inter-bank account, trade, and funds transfer easily without going out, and the discount of 20% is available to the handling commissions for trading.
To insure the smooth progress of the competition, IB has made full preparation. Apart from publishing the latest news on its official website (www.cib.com.cn), the bank will also issue Daily Review on Precious Metal via the blog (address: http://blog.sina.com.cn/xingyelicai) and Weixin (Wechat) (Account No.: xyyhlczx), so as to help investors to warm up before the competition and learn and get familiar with the knowledge and skills about investment in precious metal.
Since 2012, the gold market has gone through such big events as spreading of European Debt Crisis, issuance of QE3, and broadened quantitative easing, however the gold market has not seen great fluctuations and the overall gold price has remained vibrating in the range of USD 1,550-1,750 per ounce. Although the silver price has witnessed a bigger fluctuation in the same period, the overall quotation has remained fluctuating in the range of USD 27-37 per ounce.
In terms of annual rate of return, gold and silver are the two types boasting the best market performance, far better than other commodities such as crude oil and copper. In 2013, a range of major events such as fluctuant economic recovery of US, and negotiation about America's debt ceiling, and European Debt Crisis will all have a significant influence on the precious metal market, hence the fluctuation range of gold price will go beyond USD 200 in 2012 significantly. The price fluctuation of precious metal means more investment opportunities for ready investors. In 2013, how can investors ride wind and wave on the billowy precious metal market? How can they grasp the first opportunities among the price quotation which is ready to go? IB believes that they should keep a keen eye on the unemployment rate of US and improve their capability in navigating the quotation by way of firm offer trading along with the technical analysis flow.
As learnt by the reporter, IB ranked No.2 among domestic banks in terms of agency businesses of gold and silver in 2012. As the first Chinese commercial bank releasing the agency real gold products and gold spots deferred delivery products of SGE, IB has also successfully offered silver spots deferred delivery products. It has become one of the commercial banks acting an agency of Shanghai Gold Exchange (SGE) with the most diversified products listed for trading across China. It has won the top prize of outstanding SGE members for years consecutively. During its business development, the bank has kept innovating in the precious metal trading platform, improving the precious metal investment services. By training a large group of professionals, it has gold traders with certificates of SGE assigned at each of its outlets to provide specialized services for precious metal investors.
It is said that, in order to reduce the trading cost of investors, IB has lowered the benchmark rate of handling commissions for its agency precious metal trading of personal customers for SGE since January 4, namely reducing the rate from the former 1.5‰ to 0.8‰ uniformly, a decrease of nearly 50%.