Sprott Asset Management has long been associated with gold; Eric Sprott has been a regular speaker on the goldbug circuit for a long time. [Here's a report of his latest call, in which it's said that he favors a long gold/short equities pair trade for his hedge funds. Jim Rogers', on the other hand, is long the greenback and long gold too.] Traditionally, the firm has stuck to gold mining stocks; now, it's on the verge of launching a physical gold trust. The IPO price has been set at $10 a share, and the company is hoping to sell 75 million units for total proceeds of $750 million.
Thankfully for the company, the recent boost in gold should add to interest in the offering. It'll be listed on both the Toronto Stock Exchange, with symbol PHY, and NYSE Arca with symbol PHYS. Given the GLD is spoken for, not a bad choice.
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