HUI - AMEX Gold BUGS Index
The HUI - Amex Gold BUGS Index
is a weighted index, modified on the equal dollar, of companies involved in the gold mining industry, all of which offer unhedged Gold stocks. The Index is tracked on the American Stock Exchange
(AMEX) denoted by the HUI symbol. This HUI Index, along with the Philadelphia Gold & Silver Index (PHLX: XAU) are the most used indices in the gold market
across the world.
The Gold BUGS was created to facilitate extensive exposure to near term fluctuations in the price of gold, by including corporations that don’t hedge their gold output for longer one and half years. The index was created with a beginning value of 200.00 in March 1996.
Changes to the Gold BUGS Index are made on a quarterly basis following the closing of the trading day on the 3rd Friday of months March, June, September, and December.
Currently, the AMEX Gold BUGS lists 15 of the biggest and widest held publicly traded gold mining companies in the world, which currently include:
Barrick Gold Corp
, Goldcorp Inc
, Newmont Mining Corp
, Harmony Gold Mining Co
, Randgold Resources Ltd
, Gold Fields Ltd
, Kinross Gold Corp
, Compañía de Minas Buenaventura
, IAMGOLD Corp
, Hecla Mining Co
, Eldorado Gold Corp
, Golden Star Resources Ltd, Agnico-Eagle Mines Ltd
, Yamana Gold Inc
and Coeur d'Alene Mines Corp
At time you may come across the HUI and Gold Ratio. This is a calculation that correlates the relative quantities of the Amex Gold BUGS Index with the current gold price. This is worked out by simply dividing the value of the Gold BUGS by the price of gold. This is used to compare the strength of gold itself, versus its underlying share value.
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