Any thoughts on this decline in the premium to NAV? Are metal bulls turning their CEF in to buy the actual metal in such numbers to put the closed end fund at a discount to NAV....? A discount of price to NAV has been a buy signal in the past...Have things changed so...?
Gold is falling because futures are being sold to drive the price down. Its scaring away investors, as they want it to. The premium is falling as as people get scared away. When you can print money and exchange it for real goods and services, you don't want investors buying gold, especially when you have 17 Trillion in debt. We've seen this a few times since it was below 5 bucks, and every time I was real glad I held.