NAV Premiums of Certain Precious Metal Trusts and Funds

More gold (13,439 troy ounces) was redeemed out of the Sprott Physical Gold Trust since I last recorded this on December 21.

The cash balance in Sprott Silver is now once again negative.

The cash balance in the Central Fund is now $235,637 and so they will have to begin their plans to increase it through a secondary offering or some other means as they can.

Below is the prior NAV Report.

Gold Daily and Silver Weekly Charts - Gold Shines in Flight To Safety

A very obvious flight to safety today as global economic news sparked further market declines, although as remarked in the stock commentary the declines are still low volume and very controlled.

Silver can't seem to get out of its own way, which is not surprising in a flight to safety.  Silver's higher beta and industrial component hold it back a bit in this kind of environment.

When silver joins in, we might start thinking of a big cyclical bottom in precious metals.  This bear market leg in a generational bull market is getting very long in the tooth and the free float of gold in New York and London is getting light.

The US dollar slumped a bit, again shining the light on gold even more.

The Bucket Shop was quiet yesterday with no precious metal deliveries, and some cursory movement in the warehouses.

After the close it was announced that Greg Fleming, the President of Morgan Stanley, will be leaving the company in an unplanned manner.  Morgan Stanley is a bacterial culture even amongst the moral swamp pits of Wall Street.  Let's see if there is any followup news.  Perhaps he just wanted to spend more time with his family.  Or he is entering presidential politics so he can spend more time with his firm's money.

KB Homes will report tomorrow morning.

Gold is moving from West to East, and for very good reasons if one has their eyes open.

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - Cynical Not Cyclical

More stock declines today, and a very orderly rally off the lows to take the price levels to the very point they needed to be on the charts almost to the dollar in order to paint the picture of a decline, not a serious selloff.

This goes with the low volumes and gobs of easy money stuffed into the Wall Streeters pockets.

Let's see if they can keep this sort of think up.

As goes January, so goes the year. But it is still early times.

Have a pleasant evening.