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All That Glitters Is Gold?

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March 03, 2010 – Comments (8)

This is a companion post to my post yesterday Is Sprott in the Market Trying to Buy 10 Tonnes of Gold?, regarding the new ETF PHYS. I got this link again from Jesse's Café Américain.

Here is a link to the original article: All That Glitters Is Gold?

8 Comments – Post Your Own

#1) On March 03, 2010 at 2:57 PM, outoffocus (23.24) wrote:

Interesting but looks a little out of my price range. If they open a silver fund I may give it some consideration.

...In other news, what happened to Ocsurf's blog.  I was looking forward to a little hump day ha ha but when I click on the link I get the monkey's on a tightrope message.  Did TMF really delete his blog?

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#2) On March 03, 2010 at 2:59 PM, binve (< 20) wrote:

outoffocus,

Gotcha. I am picking it for Caps, but I haven't done any DD yet to figure out a real life purchase.

...In other news, what happened to Ocsurf's blog.  I was looking forward to a little hump day ha ha but when I click on the link I get the monkey's on a tightrope message.  Did TMF really delete his blog?

... whaaaa????

That's crazy! I wonder what's up?..

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#3) On March 03, 2010 at 4:29 PM, jesusfreakinco (29.00) wrote:

Good stuff.  I see many GLD investors migrating to PHYS.  Even if you aren't a big enough player to take delivery, it'll be much more secure that the paper-backed GLD.  Kudos to Sprott!

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#4) On March 03, 2010 at 4:30 PM, binve (< 20) wrote:

jesusfreakinco,

Exactly man!! I see this bullion purchase by Sprott to be the first of many!!..

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#5) On March 03, 2010 at 5:06 PM, Option1307 (30.18) wrote:

Here's an interesting article discussing possible problems with PHYS, just fyi. I'm not saying I necessarily agree with it. I need to look into it more, but something to think about.

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#6) On March 03, 2010 at 5:17 PM, binve (< 20) wrote:

Option1307 , .

Exactly. It is like CEF, which is also a closed end fund. It trades at some premium to NAV. It will be interesting to see how well they time their purchases (CEF is very smart amount using premium to its advantage to aquire new bullion). But anybody expecting it to be a mutual fund is incorrect.

I am still doing my DD on this one, so Thanks for the link!!

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#7) On March 03, 2010 at 5:31 PM, Option1307 (30.18) wrote:

I figured you were well aware of all that, since metals are sort of your specialty! But was just throwing it out there in case others had not seen it.

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#8) On March 03, 2010 at 11:44 PM, binve (< 20) wrote:

More news regarding PHYS: http://jessescrossroadscafe.blogspot.com/2010/03/sprott-has-purchased-about-9-tonnes-of.html

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