The past two years have been a difficult period for any investor with exposure to gold — both the metal itself and the operating mining companies. In particular, 2013 has been particularly brutal with many of the junior mining companies simply imploding. To be clear, our long-term constructive view on gold remains resolute. Our conviction … Read more
With the recent price dislocation in gold, we initiated a portfolio position in Franco-Nevada. Simultaneously, we sold 1/2 our portfolio position in Newmont Mining. Investment Report: Franco-Nevada Corporation Franco-Nevada Corporation is a gold-focused royalty and stream company with additional interests in platinum metals and other resource assets including oil and natural gas. It is one … Read more
Starting with Friday’s $84 per ounce drop in gold bullion and continuing with Monday morning’s $100+ fall, gold’s sudden collapse has been unsettling to say the least. Clearly we are at a moment when negative price action is begetting further negative price action. As Jim Rogers once said, “Markets often rise higher than you think … Read more
Why is gold in a bull market? The answer is not “price inflation”. Although “price inflation” is certainly upon us, it is not widely perceived to be a problem at this time. (In fact, “price inflation” was present during the 1980s and 1990s during the gold bear market). Monetary inflation is part of the answer, … Read more
The Sprott Physical Gold Trust (PHYS) was created to invest and hold substantially all of its assets in physical gold bullion and intends to invest primarily in long-term holdings of unencumbered, fully allocated, physical gold bullion. The Trust will not speculate with regard to short-term changes in gold prices. We are gradually liquidating our interest … Read more