KL - GGN: Stimulus Bill Boosts The Story For Gold

• The recent $1.9 trillion stimulus bill will add to the wave of unprecedented money printing that we have seen in the United States.
• This could very easily lead to inflation once the economy reopens and people begin spending their money.
• Gold acts as a hedge against inflation and GGN appears to have increased its exposure to gold miners over the past three months.
• The fund failed to fully cover its distribution in 2020 but this new argument for gold may be able to correct that problem.
• The fund appears to be fairly valued and trades at an 11% discount to NAV.

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