Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical passes the values gate
Price30.78 USD
Ethical score30.0/100
Our investment reviews on this name
2026-10-02Read Distribution31.09-1.0% to today ✓Markup gives way to Distribution after an 11% slide in 3 weeks
2026-09-09Read Markup35.00-12.1% to today Distribution gives way to Markup after a 10% rise in 10 weeks
2026-07-02Read Distribution31.75-3.1% to today ✓First review on file: Distribution
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Sprott Physical Gold Trust holds its Distribution at $30.78. Elevated stress, defensive posture warranted, held for 29 days.
As held on the ledger · 2026-10-28
Phase
Distribution · caution
Quantitative state
Elevated stress, defensive posture warranted, held for 29 days
Price at the screen
$30.78
Valuation
5.87 trailing · N/A forward price to earnings
Values screen
PASS· score 30.0
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Excluded
Core business clean
Excluded industry: Asset Management
Fail
Debt load
Excluded
Below 33%
Interest-bearing debt is of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
Excluded
Below 33%
Interest-bearing cash and securities are of assets, above the one-third limit.
Fail
Receivables
Excluded
Below 49%
Money owed to the company is of assets, above the 49% limit.
Fail
Revenue purity
Excluded
Below 5%
of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Clears, in Plain English
Sprott Physical Gold Trust clears all five screens. Its business is in a permissible area, its debt, cash, receivables and income are all inside the lines, so it passes.
Read as at 2026-10-28. It updates when the underlying figures move, and past reads are kept below.
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Today PHYS passes the screen. If new figures move it to a fail, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-21Distribution$31.50+1.3%Entry 7
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 1.3% since our last review. Ethical screening: PASS with ethical pass with moderate score. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are up 21%. Our forward projection puts the odds of a 10% gain over the next month near 23%.
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 11.2% since our last review. Ethical screening: PASS with ethical pass with moderate score. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 1% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 21%. Our forward projection puts the odds of a 10% gain over the next month near 23%.
2026-09-09Markup · changed$35.00+8.7%Entry 5
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 8.7% since our last review. Ethical screening: PASS with ethical pass with moderate score. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 1% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 21%. Our forward projection puts the odds of a 10% gain over the next month near 23%.
2026-08-08Distribution$32.20+1.4%Entry 4
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 1.4% since our last review. Ethical screening: PASS with ethical pass with moderate score. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 1% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 21%. Our forward projection puts the odds of a 10% gain over the next month near 23%.
2026-07-18Distribution$31.75+0.0%Entry 3
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 1% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 21%. Our forward projection puts the odds of a 10% gain over the next month near 23%.
2026-07-03Distribution$31.75+0.0%Entry 2
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns.
2026-07-02Distribution$31.75Entry 1
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
