NYSE Arca Gold BUGS Index

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NYSE Arca Gold BUGS Index
base data
Country world
Stock exchange NYSE Euronext
ISIN XC0009699965
WKN 969996
symbol GBX
RIC ^ HUI
Bloomberg code HUI <INDEX>
category Stock index
Type Price index
family Single index

The NYSE Arca Gold BUGS Index (also known as HUI , formerly AMEX Gold BUGS Index ) is a US dollar- traded stock index of international gold producers and mainly gold mining companies . BUGS is the abbreviation for Basket of Unhedged Gold Stocks (basket of shares of gold companies that have not hedged themselves with forward sales).

calculation

The NYSE Arca Gold BUGS Index (HUI) comprises the shares of international gold producers who do not trade or sell their gold production on the futures exchanges or only to a small extent . These mining companies are therefore very dependent on the current development of the gold price . BUGS is the abbreviation for Basket of Unhedged Gold Stocks (basket of shares of gold companies that have not hedged themselves with forward sales). The HUI index was created to provide protection against short-term gold price movements by including companies that sell their gold production in advance or short for no more than 1.5 years .

The HUI calculated in US dollars is a price index; dividends are not included in the calculation. The index level is determined solely on the basis of share prices and only adjusted for income from subscription rights and special payments. The weighting is based on market capitalization . Corporate actions such as stock splits have no (distorting) influence on the index. Updates are always made quarterly after the close of trading on the third Friday in March, June, September and December so that each equity component represents its assigned weighting in the index. The HUI tracks the performance of gold stocks listed on the New York Stock Exchange , NYSE Amex or NASDAQ .

Some Exchange Traded Funds (ETF) emulate the HUI.

In addition to the HUI price index, the HUITR and HUINTR performance indices are also calculated.

Another important index of international gold producers is the Philadelphia Gold and Silver Index (XAU). The XAU represents a portfolio of hedged and unhedged mining companies whose production is secured both with and with forward sales. This is a key difference to the NYSE Arca Gold BUGS Index (HUI), which only contains stocks of gold producers who do not make any forward sales.

history

Historical overview

The AMEX Gold BUGS Index (HUI) was launched on March 15, 1996 with a base value of 200.00 points. On November 14, 2000, the index finished trading at an all-time low of 35.99 points. Since March 1996 the loss is 82.0 percent. It is the biggest fall in the history of the stock index.

The gold price and thus the AMEX Gold BUGS Index have been rising continuously since 2001. This increase has a clear correlation with the growth of the US national debt and the weakening of the dollar against the world currencies. On September 9, 2003, the index closed above the 200 point limit for the first time since 1996. In the following five years, the HUI achieved numerous record highs.

On January 4, 2006, it closed above the 300-point mark for the first time and on September 20, 2007 for the first time above the limit of 400 points. On March 3, 2008, the 500 point mark was passed for the first time. A week later, on March 14, 2008, the HUI closed trading at a record high of 514.89 points. Since the November 2000 low, profit has been 1,330.6 percent.

On January 17, 2008, NYSE Euronext announced the acquisition of the American Stock Exchange (AMEX). On October 1, 2008, the purchase was completed and AMEX was renamed NYSE Alternext US . Five months later, on March 6, 2009, the exchange was named NYSE Amex . To reflect this change, the AMEX Gold BUGS Index has been renamed the NYSE Arca Gold BUGS Index.

The index began to decline in the course of the international financial crisis , which began in 2007 with the US housing crisis . On October 22, 2008, the HUI ended trading at 168.36 points below the 200 point mark and on October 27, 2008 it closed at a low of 151.57 points. The loss since March 2008 is 70.6 percent. Many hedge funds and other investors had to sell stocks or liquidate positions in order to stay liquid in the face of the credit crunch.

October 27, 2008 marks the turning point of the downward slide. From autumn 2008 the HUI was on the way up again. On April 8, 2011, the index ended trading above the 600-point mark for the first time at 606.24 points. On September 8, 2011, the HUI marked an all-time high with a closing level of 635.04 points. Since October 2008 the increase has been 317.8 percent. Since early January 2001, the NYSE Arca Gold BUGS Index (HUI) has risen more than four times as fast as the Philadelphia Gold and Silver Index (XAU). Among other things, this is due to the fact that the price of gold has risen continuously since 2001, so that those gold producers who do not carry out forward sales have benefited considerably more than gold producers who have sold their gold forward. From late 1996 to late 2000, however, the XAU lost less than the HUI as gold forward sales during times of falling gold prices produced better results for mining companies.

On May 15, 2012, the HUI ended trading at 375.77 points. The loss since the all-time high on September 8, 2011 is 40.8 percent. On September 19, 2012, the NYSE Arca Gold BUGS Index closed at 525.84 points, 39.9 percent higher than four months earlier.

With the decline in the gold price in 2013, the HUI also fell by more than 50 percent to 197.70 by the end of the year.

Highs

The overview shows the all-time highs of the NYSE Arca Gold BUGS Index.

  Points date
in the course of trading 638.59 Friday 9th September 2011
on a closing price basis 635.04 Thursday September 8, 2011

Milestones

The table shows the milestones of the NYSE Arca Gold BUGS Index since 1996.

First
close
over 		Final
score in points 		date
200 200.00 March 15, 1996
250 255.59 December 1, 2003
300 303.62 January 4, 2006
350 354.58 April 6, 2006
400 400.94 September 20, 2007
450 455.93 November 6, 2007
500 501.65 March 3, 2008
550 567.91 November 8, 2010
600 606.24 April 8, 2011

Annual development

The table shows the annual development of the NYSE Arca Gold BUGS Index since 1996.

year Final
score in points 		Change
in points 		Change
in%
1996 162.70
1997 96.21 -66.49 −40.87
1998 67.66 −28.55 −29.67
1999 74.03 6.37 9.41
2000 40.97 −33.06 −44.66
2001 65.20 24.23 59.14
2002 145.12 79.92 122.58
2003 242.93 97.81 67.40
2004 215.33 −27.60 −11.36
2005 276.90 61.57 28.59
2006 338.24 61.34 22.15
2007 409.37 71.13 21.03
2008 302.41 −106.96 −26.13
2009 428.15 125.74 41.58
2010 568.16 140.01 32.70
2011 498.73 -69.43 −12.22
2012 444.22 −54.51 −10.93
2013 197.70 −246.52 −55.50
2014 164.03 −33.67 −17.03
2015 111.18 −52.85 −32.22
2016 182.31 71.13 63.98
2017 192.13 9.82 5.39
2018 160.58 −31.55 −16.42

composition

The NYSE Arca Gold BUGS Index consists of the following companies (as of June 19, 2015):

rank Surname Headquarters weighting
1 Barrick Gold Canada 16.86%
2 Goldcorp Canada 14.00%
3 Newmont Mining United States 11.67%
4th Aurico gold Canada 5.27%
5 Agnico-Eagle Mines Canada 5.22%
6th Alamos gold Canada 4.89%
7th Randgold Resources jersey 4.89%
8th Buenaventura Peru 4.82%
9 Anglogold Ashanti South Africa 4.72%
10 Kinross gold Canada 4.70%
11 Yamana gold Canada 4.10%
12 Eldorado gold Canada 4.03%
13 New gold Canada 3.91%
14th Harmony gold South Africa 3.79%
15th Gold Fields South Africa 3.62%
16 Sibanye Gold South Africa 3.51% total 100.00%

Web links

Individual evidence

  1. ↑ a b c The NYSE Arca Gold BUGS Index (HUI): Index Methodology 2.0 ( Memento from September 10, 2015 in the Internet Archive )
  2. ↑ ETFs that replicate the HUI. In: justetf.com. Retrieved February 27, 2014 .
  3. ↑ NYSE Amex: Product Symbol
  4. ↑ a b c d e Yahoo: NYSE Arca Gold BUGS Index
  5. ↑ Closing Index Composition - June 19, 2015. ( .xls ; 28 kB) NYSE Euronext , June 19, 2015, archived from the original on March 4, 2016 ; accessed on June 29, 2015 .