KL - GGN: Constant NAV Destruction Ruins This Gold-Themed CEF

• Gold has been a pretty solid asset class to be in this year as uncertainty and fears of inflation have pushed investors into it.
• The fund invests in gold miners and to a lesser extent energy companies that are located around the world, providing a reasonable amount of diversity.
• The Federal Reserve's balance sheet ballooned this year and will likely to continue to do so going forward.
• The fund has underperformed both the gold miners index and the metal itself by quite a lot over the years.
• While the current discount is appealing, the fund's track record of declining net asset value makes it very much a second drawer choice for an investor.

For further details see: