Shanghai Pudong Development Bank to Suspend Individual Precious Metals Agency Services

Deep News
Sep 08

In a recent announcement on September 8, Shanghai Pudong Development Bank Co.,Ltd. revealed plans to adjust its individual precious metals agency business, citing risk management considerations and operational requirements.

The bank stated that it will selectively cease its individual precious metals agency services with the Shanghai Gold Exchange after September 25, 2026, and will simultaneously revoke trading permissions for these services across all platforms, including mobile banking, online banking, and branch counters.

Following the suspension, account holders with existing positions will face restrictions on closing, selling, and withdrawing physical metals. To safeguard client interests, Shanghai Pudong Development Bank Co.,Ltd. recommends that current position holders execute their sell, close, or physical withdrawal transactions through the aforementioned channels prior to September 25, 2026.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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