继续涨停封板，国投白银LOF溢价超68%

Core Viewpoint - The Guotou Ruijin Silver Futures Securities Investment Fund (LOF) has experienced a significant surge, achieving a three-day consecutive limit-up, with its market price reaching 3.116 yuan, reflecting a premium rate of 68.2% over the latest A-class net asset value, marking a new high for the period [1] Group 1: Fund Performance - The fund has seen a cumulative increase of 127% since the upward trend began on November 25, achieving a doubling in just 21 trading days, with an annual increase of 222.6% [1] - The corresponding annual return for the fund's off-market shares is 104.47%, indicating a substantial premium gap of 118 percentage points between market and net value [1] Group 2: Risk Management - Guotou Ruijin Fund has issued 15 risk warning announcements regarding the Guotou Silver LOF in December alone and has implemented temporary suspension measures multiple times [1] - The fund company has adjusted subscription limits to manage the influx of capital, raising the A-class subscription limit from 100 yuan to 500 yuan, while reducing the C-class limit from 1000 yuan to 500 yuan, and later tightening the C-class limit to 100 yuan [2] Group 3: Market Dynamics - The strong performance of the fund is primarily supported by the robust rise in silver prices, which reached 72 USD/ounce on December 24, marking a historical high, with a nearly 45% increase in the past month and over 120% for the year [3] - Factors contributing to the surge in silver prices include explosive industrial demand, ongoing supply shortages, and macroeconomic adjustments, with predictions of a supply gap of approximately 95 million ounces in the global silver market by 2025 [3] - Expectations of Federal Reserve interest rate cuts are anticipated to lower the holding costs of silver, while increasing geopolitical risks are likely to enhance market sentiment towards silver and gold as safe-haven assets, further opening up price appreciation potential [3]