"Looking at the your various pieces of interesting commentary on the relationship between gold and gold shares I decided to look at the discount to NAV on Golden Prospect Precious Metals Trust (GPM). Since the beginning of the year it has widened considerably to a current 20%. Perhaps an indicator that gold mining shares are oversold? For the record I hold this stock."

David Fuller's view Bloomberg currently shows a discount to NAV for GPM of 17.81%, although I am told that they do not necessarily update these on a daily basis. That is attractive if we expect the sector to rally and I would like to see the recent support hold. This IT is not currently in the Chart Library but here is BBG's chart and I will ask Eoin to include it on his return next week.

Thanks for mentioning that you hold GPM, in the interests of full disclosure to other subscribers.