Provides an investment alternative for investors interested in holding marketable gold and silver related investments. Invests primarily in long-term holdings of gold and silver bullion.
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CEF, Central Fund of Canada, is a more pure play on glad and silver than the respective ishares, since CEF backs its shares with more of each bullion. CEF is the next best thing to hoarding these metals in your house, and stands to outperform considerably once the U.S. dollar really starts to slide with housing declines, the rise of China, Brazil, and India's economies, etc. I see CEF reaching $12 in 2007.
Totally agree!
And up, and up! And up!
Can't this trade other than NAV? Reducing some certainty of investment? I read that it once traded at a 9% discount to NAV. Other than that it looks like a good time to get in, though I prefer the physical.
I like this metals play in that it's at least backed by SOMETHING and to me that feels as safe as companies loaded with cash, unlike what you'd find among the ultra-leveraged financial killing fields. This stock is somewhat better than most mining companies who have to research and dig the land in order to (hopefully) find the metal. Metals have pulled back lately along with demand and the fear in the air is bringing people back to gold again.