ICBC silver trading service for personal account enjoys blistering growth since the launch in August this year nationwide. Transaction volume and amount grew by several times every month. ICBC set a new record in November by having a jump of 191% over previous month to 4852 tonnes in transaction volume and an increase of 231% over previous month to RMB 27.888 billion in transaction amount. By the end of November, a total of 7167 tonnes have been traded by ICBC customers through silver trading service for personal account.
As related, ICBC silver trading service for personal account fills the market gap as this is an innovative service for trading another category of precious metal, It brings changes to the current situation of having only one type of precious metal available for investment, offering more choices in precious metal products for customers and meeting the increasing demand of the investors to invest in silver.
There are two types of silver trading categories: account silver (ounce) against USD and account silver (gram) against RMB, Individual customers are welcomed to open an account in ICBC to buy/sell silver either at the specified ICBC outlets or online via electronic banking. ICBC prices on account silver are quoted in real-time and go along with the international market price, highly transparent.
No delivery of physical metals after the transaction. Low initial amount, low cost, wide channels, real-time clearing of funds, flexible trading options are some of the advantages of the services, which is warmly received by the investors once launched.
Investment experts stated that ICBC's launch of account silver product coincides with the recent rising silver price internationally. The price of silver in international market started to climb beginning in August this year, standing at around USD 29/ounce currently or a jump of over 60%. Silver price has the highest yearly jump among the bulk commodities. Well-experienced traders with higher risk appetite can get higher return if investing at the right opportunity.
ICBC's next move will continue to go after the opportunities available under the new progress of the business, said an executive with ICBC. ICBC will spend effort to compliment the product portfolio, streamline the product functions in an aim to deliver more professional and convenient services for customers to invest in precious metal.
