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Discounts And Dividends In Gold Closed-End Funds

Published Mon, 03 Oct 2016 14:10:55 -0400 on Seeking Alpha

This series of articles do not aim at predicting where precious metal prices will go, but at showing investors where they can get more value for their money.
Gold is at the bottom of a range between $1,300, a pivot zone since 2015, and $1,400, a resistance since 2013. If the support breaks, the next step would likely be $1,200, a major turning point in the last three years.

Gold weekly chart (source: finviz.com)
Gold weekly chart is still bullish for the mid-term when I write this (10/3 at 11:00 am). However, the Commercial Hedgers net short exposure is extreme. This category of investors is mainly a small group of bullion banks. A possible interpretation is that these precious metals insiders are betting on a correction or a continued bear market for gold and also for silver, which is in a similar situation.

Commitment of Traders monthly chart (source: finviz.com)
It is a risky time to buy precious metals as an investment, but there is no bad time to accumulate small amounts as an insurance. For this purpose, some closed-end funds are an alternative to GLD, SLV, PPLT and PALL. The next table shows discounts, premiums, and real metal allocated for some Canadian funds on 9/30/2016.
Tickers
+Premium -Discount
Annual Fees
% of NAV in bullion*
Central Fund of Canada
CEF
-5.4%
0.45%
98.9% (gold 59.5%, silver 39.4%)
Sprott Physical Gold Trust
PHYS
+1.05%
0.35%
99.9%
Sprott Physical Silver Trust
... Read more

Stock name Last trade   P/E Earnings/Share Dividend/Share Dividend yield
GABELLI GLOBAL GOLD NAT RES & INC TRUST 4.44   0.0 0.00 0.00 13.48
GAMCO NAT RES GOLD & INCOME TRUST 5.83   0.0 0.00 0.00 10.40
ASA 12.30   0.0 0.00 0.02 0.16
SPDR GOLD TRUST 141.32   0.0 0.00 0.00 0.00

GABELLI GLOBAL GOLD NAT RES & INC TRUST - GGN
GABELLI GLOBAL GOLD NAT RES & INC TRUST - GGN  


Older articles featuring Gabelli Global Gold Nat Res & Inc Trust (GGN):
GAMCO Global Gold, Natural Resources & Income Trust Declares Monthly Distributions of $0.03 Per Share
GAMCO Global Gold, Natural Resources & Income Trust Declares Monthly Distributions of $0.03 Per Share
GAMCO Global Gold, Natural Resources & Income Trust Declares Monthly Distributions of $0.03 Per Share
GAMCO Global Gold, Natural Resources & Income Trust Declares Monthly Distributions of $0.03 Per Share
GAMCO Global Gold, Natural Resources & Income Trust Declares Monthly Distributions of $0.03 Per Share
Gold Mining Stocks Broaden Their Appeal - With Dividends
BCX: A 7.8%-Yielding CEF With Diversified Exposure To Commodities
Closed-End Funds: 12 Funds In The 10%+ Yield Club At A Discount
The Fed's Decision May Yield A Surprise
Using BCX's 7+% Yield, To Hedge Against Inflation In Your Income Portfolio

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