In plain terms — GAMCO Global Gold, Natural Resources & Income Trust
Shares currently cost about 11.3% less than the value of the assets behind them (a discount).
Over the past year it has averaged a 7.6% discount, so today's level is somewhat wide for this fund (Z-score -1.3). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 8.0% a year of the share price (7.1% 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 $1.13 of assets — a ReinvestCapture™ rate of 9.0%, more than the payout rate itself. That is buying power, not a return.
The assets themselves grew 22.8% 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 | -9.31% | 0.69% | -1.47 | 64 |
| 6 months | -9.00% | 0.82% | -1.61 | 126 |
| 1 year | -7.65% | 2.04% | -1.31 | 249 |
| 3 years | -3.17% | — | — | — |
| 5 years | -3.54% | — | — | — |
Current contemporaneous premium/discount -10.32% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range -10.87% to +1.16%. 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 | -5.09% | +6.31% | +1.16% | +1.56% | +11.74% | +5.90% |
| Market price total return | -4.56% | +8.17% | +6.45% | +8.78% | +21.17% | +15.41% |
| NAV return | -2.15% | +10.67% | +7.65% | +15.20% | +15.65% | +8.18% |
| NAV total return | -1.66% | +12.44% | +12.80% | +22.80% | +25.18% | +17.58% |
Through Oct 14, 2026. Total return reinvests distributions at the series value on the ex-date. Cumulative ≤ 1 year, annualised beyond.
About the fund
The GAMCO Global Gold, Natural Resources & Income Trust is a United States-domiciled closed-end equity investment vehicle, launched on January 4, 2005, by GAMCO Investors, Inc. and overseen by Gabelli Funds, LLC. This fund primarily allocates capital to publicly traded companies across global markets. Its investment focus centers on firms within the gold sector—spanning exploration, mining, fabrication, processing, distribution, trading, and related financial or operational services—as well as a broad spectrum of natural resources. These include entities engaged in the exploration, production, or distribution of commodities such as petroleum, natural gas, agricultural products, timber, paper, and various metals and minerals, alongside associated transportation and equipment manufacturing businesses. The fund incorporates call options into its investment methodology. Its performance is evaluated against multiple benchmarks: the CBOE S&P 500 Buy/Write Index, the Philadelphia Gold & Silver Index, the Energy Select Sector Index, and the Barclays Government/Credit Bond Index.
CEF Explorer research page for GAMCO Global Gold, Natural Resources & Income Trust. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.