HUI Gold Index
The NYSE Arca Gold BUGS (Basket of Unhedged Gold Stocks) Index (also known as the HUI Index) is a modified equal dollar weighted index of companies involved in gold mining. The Gold BUGS Index is listed on the NYSE Amex under the symbol "HUI". The HUI Index and Philadelphia Gold and Silver Index (PHLX: XAU) are the two most watched gold indices on the market. The main difference between them is that the HUI Index takes into account only gold mining stocks whereas the XAU Index includes both gold and silver producers. The Gold BUGS Index was designed to provide significant exposure to near term movements in gold prices by including companies that do not hedge their gold production beyond 1.5 years. The HUI Index was developed with a base value of 200.00 as of March 15, 1996. The AMEX Gold BUGS Index currently consists of 15 of the largest and most widely held public gold production companies. Since bottoming in late 2000, HUI went on to be the top-performing US stock sector of the decade, rising by about 1600%.
|Company name||Symbol||Weighting[nb 1]|
|Goldcorp Inc||NYSE: GG||16.20%|
|Barrick Gold||NYSE: ABX||15.37%|
|Newmont Mining||NYSE: NEM||10.88%|
|Harmony Gold Mining Adr||NYSE: HMY||5.21%|
|Coeur d'alene Mines||NYSE: CDE||5.11%|
|Yamana Gold||NYSE: AUY||5.00%|
|Anglogold Ashanti Ltd Ads||NYSE: AU||4.88%|
|Gold Fields Ltd Adr||NYSE: GFI||4.80%|
|Randgold Resources Ads||NASDAQ: GOLD||4.71%|
|Eldorado Gold Corp||NYSE: EGO||4.34%|
|Hecla Mining||NYSE: HL||4.14%|
|Comp de Minas Buenaventura Ads||NYSE: BVN||4.08%|
|New Gold Inc||NYSE MKT: NGD||3.90%|
|Kinross Gold||NYSE: KGC||3.85%|
|Agnico Eagle Mines||NYSE: AEM||3.11%|
- The weightings above are updated infrequently. See NYSE Arca Gold BUGS Index the for the current composition weighting.
Adjustments are made quarterly after the close of trading on the third Friday of March, June, September, and December so that each component stock represents its assigned weight in the index.
The HUI-gold ratio is an expression which compares the relative quantities of the Amex Gold BUGS Index and the price of gold. The ratio is calculated by dividing the value of the Amex Gold BUGS Index by the price of gold.
Investors use the HUI-gold ratio to illustrate the ever-shifting relative strength of the gold stocks versus gold.
- American Stock Exchange
- Gold as an investment
- Gold mining
- Philadelphia Gold and Silver Index
- Precious metal
- Przemyslaw Radomski, CFA. "Dictionary: HUI Index". Sunshine Profits. Retrieved 2013-01-16.
- NYSE Euronext, Amex Gold BUGS Index - HUI http://www.amex.com/othProd/prodInf/OpPiIndMain.jsp?Product_Symbol=HUI
- Why HUI? http://www.gold-eagle.com/editorials_08/hunn062911.html
- Zeal, HUI/Gold Ratio Trends http://www.zealllc.com/2007/hgrtrend.htm