Again the premiums to NAV are interesting. Sprott gold is still positive, with Sprott silver slightly at a discount.
The discount on the Central Fund has continued to narrow.
As you may recall, I ‘forecasted’ at the beginning of this year that the shortages in physical gold in London would start manifesting this month.
That may have been delayed a bit through the relief to the physical supply being received from the re-repatriation of the Venezuela gold.
Unless something radically changes I do still believe that we will be seeing a ‘break’ in the physical market at some point in the not too distant future.