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Discounts And Dividends In Gold Closed-End Funds

Published Mon, 06 Feb 2017 08:17:04 -0500 on Seeking Alpha

This series of articles does not aim at predicting where precious metal prices will go, but at showing investors where they can get more value for their money.
Since my last update 1 month ago, gold price skipped above $1200, the major pivot zone since 2013.

Gold price weekly chart (finviz.com)
Short-term price action is bullish and seasonality is still supportive in February, but expected rising rates are not. The short interest of commercial hedgers (who have anticipated price moves in the last few years) is well below the 2016 average, but it has started increasing again.

Commitment of Traders (finviz.com)
The increase in short interest is more visible in silver and platinum. It seems that precious metal insiders do not believe in a strong bull market in the near future.
I don't know if it is a good 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 6/2/2017.
Tickers
+Premium -Discount
Annual Fees
% of NAV in bullion*
Central Fund of Canada
CEF
-7.5%
0.32%
99.8% (gold 60.7%, silver 39.1%)
Sprott Physical Gold Trust
PHYS
-0.36%
0.35%
99.9%
Sprott Physical Silver Trust
PSLV
-0.29%
0.45%
99.8%
Sprott Physical Platinum &... 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
NEWMONT MINING 38.66   0.0 -0.14 0.56 1.47
BARRICK GOLD 13.12   0.0 -0.56 0.28 0.93
RANDGOLD RESOURCES 17.13   0.0 -1.20 0.16 0.93
AGNICO-EAGLE MINES 56.59   0.0 -1.33 0.50 0.88
ROYAL GOLD 123.13   86.1 1.43 1.06 0.85
CIA DE MINAS BUENAVENTURA 14.33   0.0 -0.16 0.12 0.82
GOLDCORP 11.19   0.0 -4.77 0.00 0.70
ANGLOGOLD ASHANTI 19.59   0.0 0.00 0.05 0.27
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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