![]() Pending order means the customer buys or sells account-based precious metals at the order price when the quotation meets the pending order. Real-time trading means the customer buys or sells account-based precious metals instantly at quoted prices of ICBC. In “sell first, buy later” mode, the transaction where customer sells account-based precious metals is called “sell to open”, while the transaction where customer buys account-based precious metals is called “buy to close”.Īccount-based precious metals are divided into real-time trading, pending order, conversion and automatic investment plan by the transaction mode. The transaction volume of certain account-based precious metal bought by the customer shall not exceed the balance of the account-based precious metals recorded in the “sell first, buy later” account. “Sell first, buy later” means the customer initially conducts a sale and then buys account-based precious metals in a full or partial quantity of the sale. In “buy first, sell later” mode, the transaction where customer buys account-based precious metals is called “buy to open”, while the transaction where customer sells account-based precious metals is called “sell to close”. The transaction volume of certain account-based precious metal sold by the customer shall not exceed the balance of the account-based precious metals recorded on the “buy first, sell later” account. “Buy first, sell later” means the customer sells existing account-based precious metals bought previously. The two trading modes shall be independent of each other. For trading account-based precious metals transactions in USD, the measurement unit shall be “USD/ounce” for quotations and USD for fund settlement, rounded to two decimal places.īy type of transaction, account-based precious metal transactions are divided into “buy first, sell later” and “sell first, buy later” transactions. Quotation for RMB trading account-based precious metals is expressed in “RMB/g and funds are settled in RMB and shall be rounded up to two decimal places. ![]() This product is applicable to personal customers who have the full capacity for civil conduct, possess adequate risk tolerance and have passed the product suitability assessment.Īccount-based precious metal trading varieties include account-based gold, account-based silver, account-based platinum and account-based palladium.Īccount-based precious metals transactions are denominated in RMB or USD, with the latter further divided into USD cash and USD spot exchange. Physical delivery is not available for other account-based precious metals. Account-based gold could be converted into branded gold with physical delivery based on relevant quotation at a counter to meet customers’ needs. ICBC Account-based Precious Metal is an investment product ICBC offers to personal customers for the trading of precious metal shares in RMB or USD through bookkeeping.
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