Recently, international gold and silver prices have continued to soar, with spot gold breaking through $4500/ounce and spot silver reaching a historic high of $72.33/ounce, with year-to-date increases of 72% and 150%, respectively. Boosted by this, on December 24, multiple commodity LOFs in the market collectively hit the daily limit, covering varieties such as gold-themed LOFs, Harvest Gold LOF, non-ferrous LOF, and Guotou Silver LOF. Guotou Ruijin's Guotou Resources LOF, Guotou Ruitai LOF, and Guotou Ruiying LOF also simultaneously hit the limit. Among them, Guotou Silver LOF performed particularly extreme, closing at 3.116 yuan, with a premium rate soaring to 68.16% compared to the net value of 1.7987 yuan on December 22, and was suspended from trading until 10:30 the next day.

On the same day, Guotou Ruijin Fund issued an announcement tightening the subscription for Guotou Silver LOF: the subscription limit for A shares remains unchanged at 500 yuan, while the limit for C shares has been reduced from 500 yuan to 100 yuan. It is reported that this is the 13th risk warning issued by the fund since December, with the fund company clearly warning that high premium rates are not sustainable, and blind purchases may face losses due to narrowing premiums. Additionally, silver assets themselves are highly volatile, and have now entered an overbought zone, significantly increasing volatility risk under crowded trading conditions.