复牌，一字跌停！白银基金，遭重挫！

Core Viewpoint - The recent sharp decline in silver prices has led to significant impacts on silver-related funds, particularly the Guotou Silver LOF, which faced a trading halt due to a drop in value, reflecting broader market volatility and investor sentiment shifts [1][3][6]. Group 1: Market Reactions - Guotou Silver LOF resumed trading and immediately hit the daily limit down, influenced by a 17% drop in the main silver futures contract on the Shanghai Futures Exchange [1][3]. - The premium rate for Guotou Silver LOF decreased from 58.64% to 43.8%, indicating a contraction in market confidence [3]. - The domestic precious metals futures market opened with widespread declines, with all main silver futures contracts hitting their daily limit down [3][6]. Group 2: Factors Influencing Price Movements - The price adjustments are attributed to multiple factors, including unexpected changes in monetary policy expectations, a reduction in risk aversion, profit-taking behaviors, and cumulative effects of regulatory measures [3][6]. - The market reacted to geopolitical developments, such as easing tensions in Greenland and signals from the U.S. regarding negotiations with Iran, which contributed to a decline in safe-haven demand for silver [3][6]. Group 3: Fund Performance and Valuation - The net asset value of the Guotou Ruijin Silver Futures LOF is expected to reflect the volatility in silver prices, with significant attention on its upcoming disclosure [4][7]. - The fund's valuation is primarily based on the settlement prices of silver futures contracts, which may not accurately reflect the true market value due to the recent price drops [8]. - The fund management's choice between using the daily settlement price or a more representative value for valuation will significantly impact the fund's net asset value performance [8].