太火爆！白银基金，限购升级

Core Viewpoint - The only silver futures fund in the market, Guotou Ruijin Silver Futures (LOF), has upgraded its purchase limits due to a surge in precious metal prices and increased market activity, aiming to protect the interests of fund holders [1][3][5]. Fund Purchase Limit Upgrade - Starting from October 20, the fund has set new purchase limits for its A and C class shares at 100 yuan and 1,000 yuan respectively, significantly lower than previous limits [1][3][5]. - This is the second time the fund has implemented purchase limits within a short period, having previously set limits of 6,000 yuan for A class and 40,000 yuan for C class shares on October 15 [5]. Market Context - The global precious metals market has seen a significant rally, with gold prices surpassing 4,200 USD per ounce and silver prices reaching historical highs, driven by factors such as trade tensions and expectations of interest rate cuts by the Federal Reserve [5][7]. - As of October 17, the A class unit net value of Guotou Ruijin Silver Futures has increased by 58.10% year-to-date, outperforming gold-related funds [5]. Fund Management Considerations - The upgrade in purchase limits is attributed to increased volatility in silver prices and a rise in speculative trading behavior, prompting the fund management to ensure stable operations and protect investor interests [6]. - The fund is a passive product that closely tracks the main silver futures contracts, maintaining high positions without active timing strategies, which has contributed to its returns amid rising silver prices [5][6]. Market Dynamics and Risks - The silver market has experienced a 79% increase year-to-date, outpacing gold's 62% rise, making it an attractive asset for investors [7]. - Analysts caution that the current bullish sentiment may be waning, with many positive factors already priced in, and potential headwinds from U.S.-China trade negotiations and interest rate expectations [8][9].