Gold prices continue to experience sharp fluctuations, prompting leading gold retailers to take action. Late on February 6, China National Gold Group Gold Jewellery Co., Ltd. announced via its official WeChat account that starting February 7, 2026, the company will suspend precious metals buyback services on Saturdays, Sundays, and during public holidays—non-trading days for the Shanghai Gold Exchange.
According to analysis by renowned financial auditing expert Liu Zhigeng, recent intensified volatility in precious metals prices has introduced significant operational risks and pricing challenges for gold buyback services. The primary objectives behind China Gold's adjustment to restrict buybacks to trading days are threefold. First, it aligns with market pricing mechanisms. Gold prices are based on real-time exchange quotes. Without a fair market price available on non-trading days, suspending buybacks helps avoid pricing disputes and operational passivity, ensuring orderly business conduct. Second, it controls corporate risk exposure. During periods of sharp price swings, purchasing physical gold without market price references could lead to substantial losses due to price gaps when markets reopen. This adjustment is a proactive risk management measure. Third, it enhances service consistency. Unifying rules for online and offline buyback channels not only standardizes service procedures and ensures orderly operations but also reduces consumer misunderstandings. It enables integrated management of funds, inventory, and settlements, thereby improving overall operational efficiency.
Liu Zhigeng emphasized that this rule change is not intended to restrict consumer rights but is a prudent measure based on current market conditions and an improvement in business standardization. Such practices are already common in the banking industry and among major gold retailers as standard risk management approaches.
In addition to China Gold, leading retailer Caibai Co., Ltd. has also announced adjustments to its precious metals buyback business. According to Caibai's official WeChat account, starting February 6, 2026, the company will suspend precious metals buyback services on Saturdays, Sundays, and public holidays. During operational hours, the company will implement quota management for buybacks, including daily limits for total or single-client transactions and maximum single-transaction volumes, with dynamic adjustments.
Recently, the gold market has seen significant volatility. Spot gold rebounded strongly from Monday's low near $4,400 per ounce after a sharp sell-off, with weekly swings reaching 14%. As of February 6, it closed at $4,966.61 per ounce, up 15.01% year-to-date. In domestic futures markets, the main Shanghai gold contract latest price was 1,114.5 yuan per gram, down 11.46% from a recent high of 1,258.72 yuan.
Wind data shows the gold concept index has surged over 14% year-to-date. As of February 6, China Gold's A-share rose over 2%, with year-to-date gains exceeding 40%, while Caibai shares have increased over 70% since the start of the year.