Use the player below to listen to a podcast of the commentary, or use the link to subscribe to the RSS feed.
For the month ending July, spot gold closed at $1,095.82 down $76.60 per ounce, or 6.53 percent. Gold stocks, as measured by the NYSE Arca Gold Miners Index, fell 22.47 percent. The U.S. Trade-Weighted Dollar Index rose 1.94 percent for the month. The Philadelphia Gold & Silver Index (XAU) fell 24.67 percent. The S&P/TSX Global Gold Index fell 18.51 percent. The FTSE/JSE African Gold Mining Index fell 21.92 percent. See complete fund performance here.
Performance data quoted above is historical. Past performance is no guarantee of future results. Results reflect the reinvestment of dividends and other earnings. For a portion of periods, the fund had expense limitations, without which returns would have been lower. Current performance may be higher or lower than the performance data quoted. The principal value and investment return of an investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost. Performance does not include the effect of any direct fees described in the fund's prospectus (e.g., short-term trading fees of 0.05%) which, if applicable, would lower your total returns. Performance quoted for periods of one year or less is cumulative and not annualized. Obtain performance data current to the most recent month-end here or by calling 1-800-US-FUNDS.
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 S&P 500 Stock Index is a widely recognized capitalization-weighted index of 500 common stock prices in U.S. companies. The Philadelphia 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. The S&P GSCI Spot index tracks the price of the nearby futures contracts for a basket of commodities. The Dow Jones Industrial Average is a price-weighted average of 30 blue chip stocks that are generally leaders in their industry.
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 6/30/2015: Comstock Mining Inc. 1.98% in Gold and Precious Metals Fund, 1.33% in World Precious Minerals Fund; Claude Resources Inc. 1.59% in Gold and Precious Metals Fund, 0.71% in World Precious Minerals Fund; Kirkland Lake Gold Inc. 5.74% in Gold and Precious Metals Fund, 1.59% in World Precious Minerals Fund; Centamin PLC 1.33% in Gold and Precious Metals Fund; Canaccord Genuity Group Inc. 0.00%; Klondex Mines Ltd. 16.18% in Gold and Precious Metals Fund, 17.34% in World Precious Minerals Fund; First Majestic Silver Corp. 0.00%; SilverCrest Mines Inc. 1.01% in Gold and Precious Metals Fund; OceanaGold Corp. 1.35% in Gold and Precious Metals Fund, 0.40% in World Precious Minerals Fund; Romarco Minerals Inc. 0.70% in World Precious Minerals Fund.