Central Gold-Trust is a closed-end trust established to buy and hold all of its assets in gold bullion and is to provide a secure, convenient, low-cost, exchange-tradeable alternative for investors interested in holding an investment in gold bullion.
Tuesday, Sep 242013, 3:17 PM
Tuesday, Sep 242013, 3:17 PM| 6 Comments
- If you have to own gold, Central Fund of Canada (CEF +0.6%) is the way to go, writes Morningstar's Mike Taggart, who notes it's trading at an 8.3% discount to NAV - more than two standard deviations outside the norm. As CEF holds just gold and silver bullion (55/45 mix), the big discount suggests a great deal of bearish investor sentiment is priced in.
- "There is no fundamental reason for the share price to have fallen significantly faster than its NAV," writes Taggart, and the fund gets a Bronze Morningstar rating - meaning it's expected to outperform all other funds in the commodity precious metals category over the next five years.
- Central GoldTrust (GTU -0.6%) also makes the undervalued list.
- Gold ETFs: GLD, IAU, SGOL, PHYS, AGOL, DGL, UBG, DGP, UGL, DZZ, GLL, DGZ, UGLD, DGLD, GLDI.
Friday, May 172013, 3:55 PMThe bear market in gold (GLD, IAU) has left three closed-end funds trading at abnormally large discounts to NAV, says Morningstar's Cara Esser: GTU, CEF, and PHYS. Likewise, a small selloff in municipal (MUB) paper has left these muni CEFs at attractive values: NXR, MYD, NXP. |Friday, May 172013, 3:55 PM| 2 Comments
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