This sells at a premium because gold stocks aren't perfectly correlated to their underlying value...plus GGN earns income from writing covered calls, among other strategies. Buy under $14 and hold while collecting a nice income stream. Either the inflation pessimists are all washed up or they're not! I don't care. I like the PBR and other natural resources scattered in the holdings. I've been accumulating since $12.
If you can see gold at 1500 and oil at 100 then GGN will be 25 or higher. If not and gold stays below 1000 and oil below say 55, then GGN will hang around 15. Enjoy the dist. in the meantime. Better than owning say AUY or GLD or the like -- at least you get a return on your money. Is inflation going to extreme heights as the so called experts are saying? Then you want to own GGN. Ok?