NYSE Arca Gold Miners Index (Amex Gold Miners Index)

Definition

The term NYSE Arca Gold Miners Index refers to a composite of publicly-traded gold and silver mining companies operating throughout the world.  The NYSE Arca Gold Miners Index includes common stock as well as depository receipts quoted on major stock exchanges.

Explanation

Previously known as the Amex Gold Miners Index, the NYSE Arca Gold Miners Index measures the performance of the silver and gold mining equities traded on the NYSE, NYSE MKT (formerly known as the Amex), NASDAQ, as well as the Toronto Stock Exchange.  The index includes common stock in addition to American Depository Receipts (ADR) and Global Depository Receipts (GDR) of companies engaged in the mining of silver and gold ore.

The index is calculated using a modified market capitalization approach; it is not adjusted for free float.  Companies included in the index must have a market capitalization value in excess of $750 million and an average daily trading volume of at least 50,000 shares in the prior three months at the time of inclusion.

First published on October 1, 2004, the index is calculated from 00:30 until 18:00 Eastern Time on days specified as index business days.  The performance of the index can be tracked using the stock index ticker GDM.

Related Terms

NYSE Amex Composite Index, NYSE Arca Major Market Index, Barron's 400 Index, Associated Press Municipal Bond Index