The Industrial and Commercial Bank sent a text message to urge the supplement of the margin?
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Includes contract addresses. Please trade carefully.
Who is taking over at a high position? The real counterpart in the gold market.
Starting from the close on 2026.1.28, the Shanghai Gold Exchange T+D margin has been raised to 60% (only 9% in earlier years)
This is not a technical adjustment but a direct signal of risk pricing.
Equivalent to:
Leverage down to ≈11 times
Forced down to ≈0.66 times
👉 The essence is just one sentence:
The exchange no longer allows you to participate in gold with 'financial leverage'.
What does this mean?
1. Gold has entered
High-risk price range
Global mainstream miners' AISC cost ≈ 1,100–1,300 USD
Current gold prices have significantly deviated from long-term marginal costs.
The risk-reward ratio has started to invert.
2. Retail investors are chasing high prices, while capital is hedging.
This is not a technical adjustment but a direct signal of risk pricing.
Equivalent to:
Leverage down to ≈11 times
Forced down to ≈0.66 times
👉 The essence is just one sentence:
The exchange no longer allows you to participate in gold with 'financial leverage'.
What does this mean?
1. Gold has entered
High-risk price range
Global mainstream miners' AISC cost ≈ 1,100–1,300 USD
Current gold prices have significantly deviated from long-term marginal costs.
The risk-reward ratio has started to invert.
2. Retail investors are chasing high prices, while capital is hedging.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.