The Central Fund of Canada is selling 23,600,000 units from their shelf offering at 14.85.
The proceeds will be used to buy additional gold and silver bullion. This action tends to dampen the premium. The calculations will be updated when the transactions are completed and announced on their website. Closing is expected to occur on or about May 18, 2010.
Note: As a reminder, The Cafe is long gold and silver, and has been since 2001. All that varies is the form and the degree with occasional hedging.
"You are the very cause of your ignorance, yourselves. You put away the light, yourselves; you first pluck out both your own eyes, yourselves; and after that other men’s too, so that the blind may lead the blind, until you both fall into the pit.”
Thomas More, The Sadness of Christ (Gethsemane), Tower of London, 1535