Commodity Equities » Gold Equity Leverage Index - Daily

The MineFund Gold Equity Leverage Index (GELX) is a ratio of the MineFund Gold Equity Index (a net total return index) and the indexed gold price.

The GELX can be likened to similar relative valuation measures such as dividing the Dow Jones Industrial Average or the S&P 500 by the gold price. Click to view a variety of MineFund's gold ratios. To browse a high level of detail on the component stocks, use the MineFund GEX Motion Chart.

The MineFund Exchange Traded Gold Leverage Index (ETGLX) is a ratio of the indexed shareholder asset value of the world's major gold funds (closed end fund data is pending).

When the red line is above the blue line, the gold exchange traded funds are exhibiting superior leverage to gold equities and vice versa.

MineFund Gold Equity Leverage Index (GELX)Daily. January 2000 to Present. January 2011 = 100. (GEX / Gold Price Index). Click for Monthly GELX.


Sources: MineFund Analytics | London Bullion Market Association | Company Reports

Components: AngloGold Ashanti (AU); Agnico-Eagle (AEM); Barrick Gold (ABX); Eldorado Gold (EGO); Gold Fields (GFI); Goldcorp (GG); Harmony Gold (HMY); IamGold (IAG); Kinross Gold (KGC); Newcrest Mining (NCM); Newmont Mining (NEM); Randgold Resources (GOLD); Yamana Gold (AUY).

© Copyright 2010-2012, MineFund & Alpha Found, LLC.

Although every care has been taken to ensure that this data is accurate, MineFund cannot accept responsibility for sourcing variances, mistakes, errors or omissions or for any action taken in reliance thereon. Use of this data is governed by MineFund's Terms of Conditions.

MineFund Gold Equity Index Components

TICKERCOMPANYM. Cap (90DMA)Rsrvs (Moz)MC/ Res ozP/IRVPrdctn (Koz)MC/ Pro oz
CA:ABXBarrick Gold20648140147406.007336281
CA:GGoldcorp1860867277612.002486748
ZA:ANGAngloGold53197472246.003861138
ZA:GFIGold Fields27215252237.00291493
UK:RRSRandgold619816379626.00828748
ZA:HARHarmony Gold11845024112.001182100
CA:KKinross Gold52956089246.002678198
US:NEMNewmont1168499118325.004797244
CA:ELDEldorado Gold434026169478.00690629
CA:YRIYamana Gold683018386657.001027665
CA:IMGIamgold141511125643.00811174
CA:AEMAgnico-Eagle490319258410.001026478
AU:NCMNewcrest59768768314.002055291
CA:OSKOsisko214410212522.00408526
Total/Avg97265729.6169.7416.732099379.5

© Copyright 2010-2012, MineFund & Alpha Found, LLC.

Although every care has been taken to ensure that this data is accurate, MineFund cannot accept responsibility for sourcing variances, mistakes, errors or omissions or for any action taken in reliance thereon. Use of this data is governed by MineFund's Terms of Conditions.

Notes:

  1. MKT CAP = US dollar market capitalization (in millions) average from prior 90 days.
  2. Reserves = proven and probable reserves (in millions of troy ounces) most recently reported to regulatory authorities.
  3. MC/Res oz = Market capitalization divided by ounces of reserves. A widely accepted peer comparison method.
  4. P/IRV = Current stock price divided by the Implied Reserve Value (IRV) per share. When the resulting value is below 1 the stock trades at a discount to the nominal value of its reserves. IRV is highly correlated (R2 = 0.95) with market capitalization per reserve ounce. A widely accepted peer comparison method.
  5. Production = trailing 4 quarters of gold production (in thousands of troy ounces) most recently reported to regulatory authorities.
  6. MC / Pro oz = Market capitalization divided by ounces of TTM production.