In plain terms — ASA Gold & Precious Metals
Shares currently cost about 20.7% less than the value of the assets behind them (a discount).
Over the past year it has averaged a 12.3% discount, so today's level is somewhat wide for this fund (Z-score -1.2). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 0.1% a year of the share price (0.1% of the assets). That is a payout rate, not a return: part of it may be capital being handed back.
Because the shares trade below the value of their assets, each dollar of reinvested distributions buys about $1.26 of assets — a ReinvestCapture™ rate of 0.2%. That is buying power, not a return.
The assets themselves grew 20.5% over the past year including distributions (NAV total return).
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Price and NAV, past year
Snapshot
Valuation vs. history
| Window | Average prem/disc | Std. dev. | Z-score | Observations |
|---|---|---|---|---|
| 3 months | -18.32% | 2.77% | -0.81 | 64 |
| 6 months | -16.16% | 3.06% | -1.44 | 126 |
| 1 year | -12.30% | 6.96% | -1.19 | 234 |
| 3 years | -11.37% | — | — | — |
| 5 years | -11.37% | — | — | — |
Current contemporaneous premium/discount -20.58% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range -24.11% to +15.12%. A negative Z-score means a wider discount than the window average — not that the fund is undervalued.
Performance
| Series | 1M | 3M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) |
|---|---|---|---|---|---|---|
| Market price return | -12.54% | -1.00% | -14.08% | +2.31% | +56.06% | +19.43% |
| Market price total return | -12.54% | -1.00% | -14.02% | +2.44% | +56.32% | +19.61% |
| NAV return | -8.70% | +11.56% | +18.61% | +20.40% | — | — |
| NAV total return | -8.70% | +11.56% | +18.67% | +20.54% | — | — |
Through Oct 14, 2026. Total return reinvests distributions at the series value on the ex-date. Cumulative ≤ 1 year, annualised beyond.
About the fund
A closed-end, non-diversified fund that seeks long-term capital appreciation primarily by investing in companies engaged in the exploration, mining, or processing of gold, silver, platinum, diamonds, or other precious minerals. At least 80% of its assets are invested in common shares or related securities of such companies, held as bullion, or in instruments representing interests in precious minerals.
CEF Explorer research page for ASA Gold & Precious Metals Ltd. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.