Large price discounts and premiums to net asset value (NAV) tend to occur when we are trading.

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Net asset value (NAV) is the worth of the basket of assets the fund is designed to track.

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In the last quarter, Alliance grew its net asset value (NAV) by 3.3% and delivered a total return of 5.7% for shareholders.

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The company said its Net Asset Value (NAV) had increased 12% in 2012 and by even more since the beginning of 2013.

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Unlike open-end mutual funds that are bought and sold at Net Asset Value (NAV), ETFs are traded throughout the day at whatever price clears the market.

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The biggest difference is that index funds operate in the way all mutual funds do, in that they are priced at the close of the trading day based on the net asset value (NAV) of the underlying securities.

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In the SPDR Gold Trust prospectus, for example, the trust can liquidate when the dollars in the trust fall below a certain level, if the net asset value (NAV) drops below a certain level, or by agreement of shareholders owning at least 66.6% of all outstanding shares.

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There are also some recent ETFs that I have heard physical gold bugs saying they are more comfortable with, including Central Gold Trust (GTU) , which now sells above its net asset value (NAV) and Sprott Physical Gold Trust (PHYS), which also trades above its NAV.

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Lets calculate now the percentage growth in NAV (net asset value).

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