(Yicai) Feb. 12 -- Several Chinese banks have sold out their gold products after surging prices of the safe-haven asset fueled investors’ enthusiasm.

On the app of Industrial and Commercial Bank of China, Ruyi Gold bars of 5 grams, 20 g, 50 g, 100 g, and 200 g are out of stock, with only the 10 g option showing limited availability.

The gold spot price at the London Stock Exchange rose over 1 percent to an all-time record of USD2,942.71 per ounce yesterday, marking the eighth time this year that the price of the precious metal hit a new record.

The 10 g and 20 g Chuan Shi Zhi Bao gold bars of Agricultural Bank of China are sold out on the lender’s app, and the 100 g and 200 g ones are on a tight inventory. Meanwhile, the China Construction Bank app shows that only the 50 g and 100 g investment gold bars are available, priced at CNY688.80 (USD94.23) per gram.

Gold bars on the apps of Postal Savings Bank of China and Bank of China are in the preorder status.

A China Gold store in Shanghai told Yicai that it sold out the 100 g gold bars before the Chinese New Year holiday started at the end of last month, with only smaller bars available for sale at the moment.

“Even though gold prices may continue to rise in the short term, the related risks are also likely to gradually accumulate,” said Wu San, a researcher at the Bank of China Research Institute. “Investors need to consider different strategies, such as portfolio diversification, to effectively mitigate risks based on their individual situation.”

The fixed returns on gold investments are showing a downward trend, said Wang Pengbo, chief financial analyst at US semiconductor and infrastructure software product firm Broadcom.

For conservative investors, Wang recommended choosing more stable investment methods, such as gold accumulation plans. By regularly investing a fixed amount to purchase gold, investors can effectively average costs and reduce risks from short-term price fluctuations, he explained.

Editor: Futura Costaglione