国投白银LOF剧烈波动：振幅接近20%

Core Viewpoint - Guotou Silver LOF has attracted significant market attention due to its volatile trading performance, with a notable increase in both price and trading volume in recent days [1][2]. Group 1: Fund Performance - Guotou Silver LOF experienced a dramatic price fluctuation, opening at the limit down price and then quickly rebounding, achieving a maximum intraday increase of over 9%, closing up 8.8% at midday [1]. - The fund has seen a cumulative increase of over 200% this year, with an accelerated rise of nearly 80% in December alone [1]. - As of December 25, 2025, the fund's net asset value per share was 1.9469 yuan, while the closing price on December 26 was 2.524 yuan, indicating a significant premium over the net asset value [1]. Group 2: Trading and Risk Management - To protect investor interests, the fund announced a temporary suspension of trading from December 29, 2025, until 10:30 AM, with the possibility of further suspensions if the premium remains high [2]. - The fund management has stated that the A-class fund shares have a subscription limit of 100.00 yuan, with plans to adjust this limit in response to market conditions [3]. - The fund's trading prices are subject to fluctuations not only from net asset value changes but also from market supply and demand, systemic risks, and liquidity risks [4]. Group 3: Market Context - The international precious metals market has also experienced significant volatility, with silver spot prices initially rising over 5% before dropping and then recovering to a gain of approximately 1.2% [4]. - Silver futures displayed similar trends, initially increasing over 7% before experiencing a drop and then rising again to a gain of about 3.8% [6].