Q: Hi Peter. Keep up the excellent work. I am interested in starting to accumulate a position in gold/silver bullion. I was looking at Central Fund of Canada (CEF.A.TO). As far as I know, it is a closed-end fund which is equally weighted between gold & silver and has typically traded for a 5-10% premium to net asset value. Today, it is available for a 2% discount to net asset value (which I assume is because investor sentiment is just brutal). Do you generally like closed-end bullion funds like this one or would you prefer the open-ended bullion funds like GLD & SLV instead? I must admit the gold bugs have got me worried about the open-ended ones as they question whether you can be certain the etf is really backed by physical bullion. Do you think that is a legitimate concern or something not to worry about?
Thanks
Anthony
Thanks
Anthony