HUI Gold Index

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The NYSE Arca Gold BUGS Index is a modified equal dollar weighted index of companies involved in gold mining. BUGS stands for Basket of Unhedged Gold Stocks. It is also referred to by its ticker symbol "HUI". The HUI Index and Philadelphia Gold and Silver Index (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.[1] 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.[2] Since bottoming in late 2000, HUI went on to be the top-performing US stock sector of the decade, rising by about 1600%.[3]

Index components[edit]

NYSE Arca Gold BUGS Index 1996–2012
This list is complete and up-to-date as of June 2015.
Company name Symbol Weighting[nb 1]
Goldcorp Inc NYSEGG 16.59%
Barrick Gold Corp NYSEABX 11.87%
Alamos Gold Inc NYSEAGI 9.49%
Newmont Mining Corp NYSENEM 9.27%
AngloGold Ashanti Ltd NYSEAU 5.70%
Gold Fields Ltd NYSEGFI 5.66%
Randgold Resources Ltd NASDAQGOLD 5.34%
Sibanye Gold Ltd NYSESBGL 5.23%
New Gold Inc NYSE MKTNGD 5.18%
Kinross Gold Corp NYSEKGC 5.06%
Agnico Eagle Mines Ltd NYSEAEM 4.91%
Eldorado Gold Corp NYSEEGO 4.81%
Cia de Minas Buenaventura SAA NYSEBVN 4.10%
Harmony Gold Mining Co Ltd NYSEHMY 3.40%
Yamana Gold Inc NYSEAUY 3.40%
  1. ^ The weightings above are updated infrequently. See NYSE Arca Gold BUGS Index Closing Index Composition 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.

HUI-gold ratio[edit]

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.[4]

See also[edit]

References[edit]

  1. ^ Przemyslaw Radomski, CFA. "Dictionary: HUI Index". Sunshine Profits. Retrieved 2013-01-16. 
  2. ^ NYSE Euronext, Amex Gold BUGS Index - HUI http://www.amex.com/othProd/prodInf/OpPiIndMain.jsp?Product_Symbol=HUI
  3. ^ Why HUI? http://www.gold-eagle.com/editorials_08/hunn062911.html
  4. ^ Zeal, HUI/Gold Ratio Trends http://www.zealllc.com/2007/hgrtrend.htm

External links[edit]