Experts say silver prices may have peaked, and the decline may continue into the fourth quarter.

On February 2nd, spot silver prices fell by 12% intraday, closing at $74.14 per ounce. New York silver futures also fell by over 5% intraday. Wu Jiang, a senior analyst at Guotou Futures, analyzed that Guotou UBS silver futures (LOF) have repeatedly triggered temporary trading halts in the past six months due to significant premiums in secondary market prices. From December 2025 to February 2026, Guotou silver LOF has been suspended more than 25 times, with a particularly high frequency in January. On February 2nd, it was suspended again until 10:30 AM due to premium risk. The direct cause of the suspension was the severe divergence between the fund's secondary market price and net asset value. Despite fund companies issuing over 30 risk warnings and suspending subscriptions in an attempt to cool down the market due to the volatile silver market, speculative enthusiasm remained unabated. This high-premium trading reflects short-term speculation driven by expectations of silver futures price volatility. The suspension is essentially a risk protection measure implemented by the exchange and fund managers for investors. Looking ahead, the short-term oversold condition may attract some bargain hunters. However, from a long-term perspective, silver prices have already begun to show signs of topping out. The continued price correction, or downward trend, may persist into the fourth quarter of this year. (China News Service)