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Precious Metal Agency Business

Date: 2016-03-20

Precious Metal Agency Business

Precious metal agency business means a fee-based intermediate business that PSBC, as the financial member of Shanghai Gold Exchange, establishes the agency business with personal and corporate customers and provides the customers with agency trading, fund clearing, tangible gold delivery and other services of Shanghai Gold Exchange.  

Business varieties  

Business varieties offered by the Bank to personal customers include: Au100g, Au99.99, Au99.95, iAu100, iAu99.99, Au(T+D), mAu(T+D), Au(T+N1), Au(T+N2) and Ag(T+D).

Business varieties offered by the Bank to corporate customers include: Au50g, Au100g, Au99.99, Au99.95, iAu100, iAu99.99, Au(T+D), mAu(T+D), Au(T+N1), Au(T+N2), Ag(T+D), Ag99.9, Ag99.99 and Pt99.95.

Note: Any change in the business varieties shall be subject to the announcement of Shanghai Gold Exchange.

Applicable customers

1. Customers who have the need of trading and are well-experienced in buying/selling precious metals, are able to bear some risks, have some knowledge about the precious metals market and wish to gain from price spread by the grasp of market trend.

2. Customers who need to allocate assets, are well-experienced in the investment of precious metals, and are able to bear some risks and hold precious metals over a period for diversified allocation to preserve or add the assets value.

Service philosophy

Cozy: transparent price and lower fee;

Freely: multiple handy channels available for you;

Assured: professional management guarantees the fund security;

Attentive: considerate services, care what you care.

Advantages

Margin trading: less investment, gain more;

Two-way investment: buy ups and downs, two-way gains;

Flexible time: day and night sessions, spot buy and sale;

Transparent price: coincide with and price changes with the international market;  

Preferential fee: lower handling fee and cost;

Multiple channels: numerous outlets and channels;

Professional system: grasp opportunities and win god at spot

Business channels

Counters, wealth management planning system, online banking, phone banking and customers’ independent trading terminal, etc.

Through those channels, customers can handle such businesses as account management, firm offer entrustment, delay declaration, gold draw management and data inquiry, etc. Of which, the firm offer contract can be handled at the counter and personal banking only. The spot deferred delivery contract and cancellation can be handled at the counter only.  

Both the counter and the wealth management planning terminal do not support the entrusted application of deferred firm offer trading.

Procedures for application and opening an account

1. Opening an account at the counter: any of the PSBC counters can open an account for firm offers (excluding deferred trading) and general account (including deferred trading). A personal customer can take the PSBC personal demand settlement card/passbook on the strength of his/her own second-generation resident ID certificate or passport to go to any of the PSBC outlets, to apply for subscribing relevant business. For concrete procedures of corporate customers, please consult the customer manager of PSBC.

2. Opening an account via online banking: any customer who has subscribed the personal electronic banking can log in the online banking of PSBC to open an account for firm offer of precious metals. But corporate customers cannot open the account through online banking at present.

Note: Any customer who has subscribed firm offer service needs to extend the trading, please go to the counter to apply for the business change. 

Trading hours

The first trading day after holidays and rest days except common weekends

Morning

8:50-9:00

9:00-11:30

 Afternoon

13:30-15:30

Common trading days

Night

 19:50-21:00 (last trading day)

  21:00 (last trading day) -2:30

Morning

9:00-11:30

Afternoon

13:30-15:30

Specifically, there are three sessions on common trading days, i.e., night session that ranges from 20:50 of the last trading day to 2:30, morning session and after session on the current trading day. The collective bidding will start at 20:50 on the nights from Monday to Friday, and 10 minutes before the opening is the period of collective bidding, and the price generating therefrom will be the opening price during the period from Tuesday to the next Monday. The first trading day after holidays and rest days except common weekends has two sessions of trading, the collective bidding starts at 8:50a.m., and 10 minutes before the opening are the period of collective bidding, the price generating therefrom will be the opening price of the current day. At present, the Bank does not provide the declaration of neutral warehouse.

Any adjustment to the aforesaid trading hours shall be subject to the notice of Shanghai Gold Exchange.

Warm tips

1. The gold trading code allocated by Shanghai Gold Exchange to personal customers is totally unique and permanent. Please be sure to keep your gold trading code properly.

2. If you have opened an account with another bank, you should cancel the contract with another bank before you activate the account in PSBC. Please actively provide your gold trading code to the teller when activating the account in the Bank.

3. Pursuant to relevant regulations of Shanghai Gold Exchange, any physical gold that has been withdrawn from the treasury by a personal customer could not be allowed to re-enter Shanghai Gold Exchange for trading or be put back in storage.

4. The Bank does not provide the declaration of neutral warehouse and repurchase of precious metals.

5. Password you set when withdrawing the physical gold cannot be reported for loss or reset, please keep the password properly.

Risk prompt

The price of precious metals probably involves wide fluctuations because of being influenced by various domestic and international political and economic factors, natural disasters, fire disasters, wars, management regulations of relevant government departments, policy changes and various emergencies. All transaction instructions sent by a customer through the precious metal business system of the Bank are made by the customer himself/herself based on rational judgment of relevant market information and autonomous decision making, customer needs to undertake the consequence caused by that transaction.