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If you have deep enough pockets, sure! I already converted (in the registered account where I do this) all of my CGL.C to MNT, so at this point I can't buy any more.

Quite a volatile week in gold. Hopefully this will scare a lot of people and discourage them from holding gold. I'd like it to also flush out any leveraged or greedy players.
 

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Personally, I feel like the signs point to a good deal of inflation coming out of the COVID mess and governments have been printing money to keep the party going for the last two years -- I would have thought the nervous would be stocking up on gold. Is this NAV anomaly peculiar to MNT or is it in other funds too?

EDIT: it looks like CEF.TO is at a 3% discount.
 

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Personally, I feel like the signs point to a good deal of inflation coming out of the COVID mess and governments have been printing money to keep the party going for the last two years -- I would have thought the nervous would be stocking up on gold. Is this NAV anomaly peculiar to MNT or is it in other funds too?

EDIT: it looks like CEF.TO is at a 3% discount.
I like the theory that all the money printing is landing in stocks, bonds, real estate, and crypto. That the inflation is being contained in these assets, so that's why we don't see prices spiking (up a bit, sure). Will the money start to flow out of these capital assets and into the economy? Not sure... Where does gold fit in? It's just an asset like the others, where people might or might not go towards, looks like they haven't this time though.
 

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EDIT: it looks like CEF.TO is at a 3% discount.
The premium/discount on MNT matches up quite well with general sentiment in the gold space. For example there have been net redemptions in recent months out of the giant GLD and IAU as well... so the MNT discount is logical. It's reflecting general investor sentiment: gold has been weak for several months.

Remember, this thing is like a closed-end fund. There is a constant amount of gold in their vaults. If there's buying pressure, then the share price rises above NAV, because there's no change in the vaults. If there's selling pressure, the share price falls below NAV. It has always been the same way with the old Central Fund (CEF) though I don't bother watching the new CEF any more, ever since Sprott ruined it.

As for primary causes of gold weakness. I think the story is that early 2020 brought inflation and devaluation fears during COVID, plus a flight to safety as money fled stocks. Now that fears are alleviating and it's looking like there is not going to be any significant inflation, I think it makes sense for people to abandon gold.

Money is coming out of gold and bonds (risk hedges) and piling into equities. This is a beautiful behaviour and is what gives us the low correlations between these asset classes.

Investors love to chase returns, so they are chasing the high returns in stocks and piling into those (buy high) while abandoning diversification and hedges (sell low).
 

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I use Trading View. I have published the GLD chart above GLD trend and short-term direction for AMEX:GLD by vdimitrov73, or you can create your own.
Inflation surprise + no FED policy change = Gold :)


Just to update you guys that we have a bullish setup for Gold as it crossed the trendline since the last top, now it is at the resistance line of $171.04.
If it closes above it with a good volume and we are off to the races.

21875


Here is a bigger picture:

21876
 

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Hi everyone,

I was wondering if anyone could enlighten me as to how to determine the true, real-time NAV of MNT (ie: determining the premium/discount that the shares are presently trading at) - this would go a long way to reassure me that I'm not paying too much of a premium when buying shares, etc (and ideally buying at a discount, of course).

Thanks in advance!
 

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Hi everyone,

I was wondering if anyone could enlighten me as to how to determine the true, real-time NAV of MNT (ie: determining the premium/discount that the shares are presently trading at) - this would go a long way to reassure me that I'm not paying too much of a premium when buying shares, etc (and ideally buying at a discount, of course).

Thanks in advance!
The mint calculate it for you, but you can do it yourself by multiplying the ounce of gold per unit with the price of gold per ounce.
 

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The mint calculate it for you, but you can do it yourself by multiplying the ounce of gold per unit with the price of gold per ounce.
Thanks for the info. I found the NAV area on the MNT website and they list the NAV as $23.75/share. The last trade today was $22.95.

So is my calculation correct in that: the fund should be at $23.75/share but went for $22.95/share at the last trade, or a $0.80/share discount, thus that was a 3.4% discount to NAV?
 

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Gold is -13% during a year of rampant inflation and the annual return of gold is 0% over a decade of money printing

The younger generation is not interested in shiny rocks imo
 

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Don't ignore the changing demographics james.

The greatest wealth transfer of modern history has begun. The older generation can't take their gold with them. The younger generation is buying digital gold.

Supply and demand.
 

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Thanks for the info. I found the NAV area on the MNT website and they list the NAV as $23.75/share. The last trade today was $22.95.

So is my calculation correct in that: the fund should be at $23.75/share but went for $22.95/share at the last trade, or a $0.80/share discount, thus that was a 3.4% discount to NAV?
I think you've got it.

During trading hours, MNT provides live updates of the current NAV plus discount/premium calculations here.
 

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The TSX is up 15% ytd and gold is down 13% negating all the gains. IMO I never got gold. Bitcoin has replaced it as a diversifier and has many other additional benefits - a currency, better rising investment, storer of value etc. Warren Buffet calls gold a big block of material that just sits there and produces nothing and pays no dividend.
 
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