Jesse's Café Américain: Metals Bear Raid - Sprott Raises $392 Million For Gold for PHYS - Dalio Says 'Shift Assets Into Gold'
On the bright side, the Sprott Physical Gold Trust (PHYS) completed its
secondary offering and the underwriters allotment, raising $392 million
to buy additional gold bullion to be held in the trust.
The report does not indicate if they have secured title to the gold yet.
Even after they have secured title, it often takes weeks and even
months to achieve actual delivery to their vaults. The recent lag times
in their Silver Trust expansion, and the types of bars they received,
suggested a tight market for the real thing.
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