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 Gold20149140144663.007336275
CA:GGoldcorp20612673071001.002486829
ZA:ANGAngloGold68627493402.003861178
ZA:GFIGold Fields29515257388.002914101
UK:RRSRandgold7353164491027.00828888
ZA:HARHarmony Gold13065026184.001182111
CA:KKinross Gold46566078403.002678174
US:NEMNewmont1208799122538.004797252
CA:ELDEldorado Gold460826179781.00690668
CA:YRIYamana Gold6216183521195.001027605
CA:IMGIamgold1370111211052.00811169
CA:AEMAgnico-Eagle661919348796.001026645
AU:NCMNewcrest74238785513.002055361
CA:OSKOsisko2481025884.0040861
Total/Avg102460729.6170.4701.932099379.79

© 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.