On March 2, global risk aversion intensified due to escalating geopolitical tensions in the Middle East, driving a strong rally in international gold prices. By 15:17, spot London gold had successfully broken through the $5,400 per ounce barrier, reaching $5,418.64 per ounce, a gain of over 2.6%. COMEX gold also rose by more than 2.9%.
In response to heightened geopolitical risks, several banks issued urgent risk warnings for the precious metals market. Industrial and Commercial Bank of China stated that, given the recent increase in international geopolitical risks and significant volatility in precious metals prices, investors should closely monitor market developments, strengthen risk management, participate in trading rationally, and safeguard their assets. China Everbright Bank also cautioned that recent fluctuations in domestic and international precious metals prices have intensified, raising market risks. The bank advised investors to stay informed about market changes, enhance their awareness of risks in precious metals trading, manage positions appropriately, and keep track of持仓 and margin balance changes to invest prudently and protect their financial security.
