GGN. The Gabelli Global Gold, Natural Resources and Income Trust is a closed ended equity mutual fund. Gold has been tanking but it appears we are approaching a buying opportunity: either add to positions or buy long. Pays 11% dividend.
Buy up to one percent of your portfolio: or you can scale in buying small amounts over the next month. If you are not familiar with GGN, do the research to make sure you understand this fund and what it does. Yahoo Finance is an excellent source as it includes both stats and useful articles written by followers of the stock. I consider GGN a relatively safe fund and you should plan on holding long term. In my opinion this is an excellent point to start buying. Keep in mind gold goes up…. goes down….. goes up…..and you should be mentally prepared for the swings. Gold is probably going UP in 2013.
(Update January 10: It now appears gold and GGN will go lower by 5-10%-when you can buy. It will go lower but turn around and go much higher. This is a long term hold, meaning years. Remember you earn dividends in the meantime. Update January 5: Despite the pullback, I still foresee the golds going up thru 2013) (Update January 7. All of this chatter that is driving gold lower is nonsense. This is a buy for Long Term Holders)
Happy New Year!!!!!!