I chased CEF a bit this morning without much apprehension. While I have actual gold and a little silver I like to tuck the bullion funds into the IRA on occasion. Sure, this could be one massive head fake to start 2021, but for nearly a half a year gold and silver have been in correction as the broad markets bulled. The PMs have done great work to put in a good risk vs. reward profile.
As of the close on 12/31/20 CEF (gold & silver) was trading at a 3% discount to NAV (bottom panel). I don’t mind chasing today’s pop because if this is real, which I think it is, the objective is new highs. The moving average trends are up and the TA just looks nice overall.
Side note: CEF spent the majority of the 2002-2011 period at a whopping premium to NAV of 10% or more.
A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the technical parameters are already noted. These updates are meant as a starting point for your further research if interested. I will not personally buy every item highlighted and will sometimes sell (ref. Trade Log) any item that I do buy below target (assuming I’ve not stopped out or sold for some other reason) as I often do. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.
