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GTU/CEF are definitely audited, most of my long-term gold (aside from my physical) is there. GLD/SLV is audited, but there are questions about exactly what they are holding and how much physical gold they have as opposed to paper.
I use GLD/SLV for short-term trading.
Selling at a slight discount, but as I recall it has for awhile now.
Other than my physical, most of mine is also in GTU and CEF. The premiums are at the low end today of where they have often traded. GLD and SLV have always traded at a small discount ever since I have been using them also for short term trading. I also sell covered calls on both.
Last night APMEX had some fractional Perth Mint colorized gold selling at spot. It may already be gone.
The premiums are at the low end today of where they have often traded.
Quite high, indeed :eek:
Sorry gentlemen, I really fail to grab the implications of the chart. Usually Jesse is quite more explicit, but he added no comments and I think this week is pivotal for PMs... any idea?
I used the wording I found in the chart from Jesse's...
Quite high, indeed :eek:
Sorry gentlemen, I really fail to grab the implications of the chart. Usually Jesse is quite more explicit, but he added no comments and I think this week is pivotal for PMs... any idea?
It's an information chart -- Jesse posts it now and again (weekly?). Nice summation of the premium/discount to NAV for some of the major PM trading vehicles.
Wasn't meant to have any commentary -- just an FYI.
I used the wording I found in the chart from Jesse's...
Quite high, indeed :eek:
Sorry gentlemen, I really fail to grab the implications of the chart. Usually Jesse is quite more explicit, but he added no comments and I think this week is pivotal for PMs... any idea?
Jesse simply puts out the information table periodically. You can get the daily premiums on the two Canadian closed end funds [CEF and GTU] from their respective websites...and the comment about the premium on GTU is correct, it's towards the lower end of its rather wide range in the past year.
Jesse simply puts out the information table periodically. You can get the daily premiums on the two Canadian closed end funds [CEF and GTU] from their respective websites...and the comment about the premium on GTU is correct, it's towards the lower end of its rather wide range in the past year.
when precious metals are rising the premia on gtu and cef tend to widen. gold sells off, the premia narrow.
That's generally correct, but I have noticed that the premia on CEF and GTU started to increase just before the last cyclical low - a change from the previous pattern, but not sure this will be repeated?
If this becomes a repeating pattern it means that buyers are waiting for the dips and willing to bid up the premium in anticipation of rising prices, instead of on rising prices as before...basically CEF and GTU have been "discovered"...
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