All shares and share markets can be subject to large price...

All shares and share markets can be subject to large price changes as a result of sentiment changes, TGG is not alone there.
Best to take advantage of that with TGG, buy when discount is high, sell when discount low.

There are a few alternatives which overcome the liquidity/trading at a discount/dilution problems in these LIC's.

Index funds, which are open ended (ie not fixed number of shares on issue), where the manager makes the market by buying and selling on market at a small price difference.
There are some international ones of these, eg IEU, ISG, But I think these are US based, so drag a holder into the issue of international taxation considerations.

Also MGE, MagellanGlobal Equities fund, is a market maker, but does not follow any index and is Australian based.