PHYS Stock Recent News

TORONTO, Sept. 09, 2024 (GLOBE NEWSWIRE) -- Sprott Asset Management LP (“Sprott Asset Management”), a subsidiary of Sprott Inc., on behalf of the Sprott Physical Gold Trust (NYSE: PHYS) (TSX: PHYS / PHYS.U) (the “Trust”), a closed-ended mutual fund trust created to invest and hold substantially all of its assets in physical gold bullion, today announced that it has updated its at-the-market equity program to issue up to US$1 billion of units of the Trust (“Units”) in the United States and Canada.

PHYS provides exposure to allocated gold bullion stored at the Royal Canadian Mint. Gold and PHYS have traded sideways since April, working off overbought conditions. With the Fed expected to begin cutting rates in September, I believe PHYS' consolidation is coming to an end. I reiterate my buy rating.

While the anticipation of the first interest rate cut is building, so are recession fears. That could add another catalyst for higher gold prices as forthcoming economic data could hint at slower growth.

alexis84 After gold prices reached a new all-time high of USD 2,431, a sharp pullback between mid-and late-April created confusion and misjudgments even among leading analysts. Nevertheless, a strong recovery found its way back to the top. While gold (XAUUSD:CUR) as well as the SPDR Gold Shares ETF (GLD), the iShares Gold Trust ETF (IAU) and the Sprott Physical Gold Trust (PHYS) achieved their first weekly close above USD 2,400 ever, silver has been breaking through its key resistance zone around USD 30! Silver in US-Dollar, quarterly chart as of May 19th, 2024. (Tavi Costa) Despite gold prices rising by USD 621 or 34.3% from the major low on October 6th, 2023, silver (XAGUSD:CUR) and the iShares Silver Trust ETF (SLV) as well as the Sprott Physical Silver Trust (PSLV) had largely remained in the shadow of gold's strong performance. Hence, the typical exuberance in silver prices during the final stages of a rally in the precious metals sector has yet to manifest. However, a breakout ab

Famous for his exploits featured in the book and film The Big Short, hedge fund manager Michael Burry made news once again, this time for going long on a peculiar asset. Burry's Scion Asset Management acquired a huge stake in Sprott Physical Gold Trust (NYSEARCA: PHYS ), a unique closed-end fund that focuses almost exclusively on physical gold.

While he added to and trimmed several positions, the standout move was his new investment in Sprott Physical Gold Fund NYSEARCA: PHYS. In this article, we'll delve into the highlights of this filing and why he chose to invest in physical gold over other forms of the precious metal.

While he added to and trimmed several positions, the standout move was his new investment in Sprott Physical Gold Fund NYSEARCA: PHYS. In this article, we'll delve into the highlights of this filing and why he chose to invest in physical gold over other forms of the precious metal.

Michael Burry, known for his successful bets during the 2008 financial crisis, has found a clever arbitrage opportunity in a physical gold ETF. Burry's positions are in the Sprott Physical Gold Trust, which allows investors to take delivery of the gold if they buy enough. Burry bought for a discount and now can sell for close to NAV thanks to the publicity from his 13-F - if he didn't already take delivery.

Michael Burry's Scion Asset Management dumped positions in Alphabet Inc. and Amazon.com Inc. during the first quarter while buying shares of an exchange-traded fund that invests in physical gold, according to a filing with the Securities and Exchange Commission released Wednesday.