NAV has not been rising. It has consistently fallen over the last year from the $13.50 area to its current level. You can only evaluate the health of GGN by seeing how much cash was generated by the sale of new shares. GGN frequently sells new shares in order to raise cash and be able to maintain the dividend. They did that a lot in the two years before they lowered the dividend from .14 to .12. There are much better buys to hedge future inflation and much better buys if one is looking for consistent reliable income.