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Third Quarter 2014
For the quarter, spot gold closed at $1, 208.67 down $109.72 per ounce, or -8.32 percent. Gold stocks, as measured by the NYSE Arca Gold Miners Index, fell 19.03 percent and the U.S. Trade-Weighted Dollar Index rose 7.72 percent for the quarter. Also for the third quarter, the Philadelphia Gold & Silver Index (XAU) fell 19.59 percent, the S&P/TSX Global Gold Index fell 15.26 percent and the FTSE/JSE African Gold Mining Index fell 12.70 percent.
For the quarter, the Gold and Precious Metals Fund fell 19.95 percent and the World Precious Minerals Fund fell 21.82 percent. See complete fund performance here.
Past performance does not guarantee future results.
The NYSE Arca Gold Miners Index is a modified market capitalization weighted index comprised of publicly traded companies involved primarily in the mining for gold and silver. The index benchmark value was 500.0 at the close of trading on December 20, 2002. The U.S. Trade Weighted Dollar Index provides a general indication of the international value of the U.S. dollar. The Philadelphia Stock Exchange Gold and Silver Index (XAU) is a capitalization-weighted index that includes the leading companies involved in the mining of gold and silver. The S&P/TSX Global Gold Index is an international benchmark tracking the world's leading gold companies with the intent to provide an investable representative index of publicly-traded international gold companies. The FTSE/JSE African Gold Mining Index is a market capitalization weighted index. (Returns are quoted as price return in the home currencies of each index. For example, the S&P/TSX Canadian Global Gold Index is calculated using Canadian Dollars.)
The Nasdaq Composite Index is a capitalization-weighted index of all Nasdaq National Market and SmallCap stocks. The Russell 2000 Index is a U.S. equity index measuring the performance of the 2,000 smallest companies in the Russell 3000. The Russell 3000 Index consists of the 3,000 largest U.S. companies as determined by total market capitalization. The S&P 500 Stock Index is a widely recognized capitalization-weighted index of 500 common stock prices in U.S. companies.
Fund portfolios are actively managed, and holdings may change daily. Holdings are reported as of the most recent quarter-end. Holdings in the Gold and Precious Metals Fund and the World Precious Minerals Fund as a percentage of net assets as of 09/30/2014: Alamos Gold Inc. (Gold and Precious Metals Fund 0.00%, World Precious Minerals Fund 0.04%), Argonaut Gold (Gold and Precious Metals Fund 0.00%, World Precious Minerals Fund 0.00%), AuRico Gold Inc. (Gold and Precious Metals Fund 1.85%, World Precious Minerals Fund 0.41%), B2Gold Corp (Gold and Precious Metals Fund 0.00%, World Precious Minerals Fund 0.00%), Detour Gold Corp (Gold and Precious Metals Fund 0.00%, World Precious Minerals Fund 0.00%), Klondex Mines Ltd (Gold and Precious Metals Fund 7.76%, World Precious Minerals Fund 7.51%), Primero Mining Corp (Gold and Precious Metals Fund 0.05%, World Precious Minerals Fund 0.02%).