In the wake of the freezing/ confiscation of gold and silver in the MFG collapse (see MFG client Jason Fine who had 15,000 ounces of his own silver and 500 ounces of his own gold held in HSBC vaults confiscated because he was an MFG client) distrust of paper gold and silver is reaching all-time highs.
More and more gold and silver bugs are learning The Doc's rule daily: If You Don't Hold It, You Don't Own It!!
As evidence of this collapsing confidence in paper PM's, PSLV's premium to net asset value (NAV) neared 30% Thursday, reaching 29.3% at one point, and closing the day at 28.98%!!
Net Asset Value per Unit* $11.39
Premium/Discount Calculation 28.98%
(In U.S. Dollars. Data last updated Thursday, January 05, 2012 6:00 PM EST)