明起，暂停申购！专家：这波上涨行情伴随一定风险

Group 1 - Gold and silver prices experienced significant volatility, with silver reaching a peak of $117 per ounce before dropping to approximately $103.7, while gold peaked at $5110 before falling below $5000 [1] - The National Investment Silver LOF announced a suspension of subscription services starting January 28, 2026, to protect the interests of fund shareholders, marking it as the only fund primarily investing in silver futures [2] - The silver price has significantly outperformed gold, with a year-to-date increase of nearly 150%, leading to a decrease in the gold-silver ratio to below 50, a level not seen in 14 years [6][7] Group 2 - The surge in silver prices is attributed to both financial and industrial demand, with ongoing supply shortages exacerbated by increased industrial usage in sectors like photovoltaics and new energy [7] - Analysts predict that while silver may face short-term volatility, the long-term outlook remains positive due to robust industrial demand and potential price increases, with forecasts suggesting silver could reach $120 per ounce in 2026 [9][10] - The investment demand for silver has surged, leading to increased production of investment silver bars, with factories adjusting their output to meet the rising demand [9]