In this article we will have a look at the performance of the HUI index (Amex Gold Bugs) compared to the performance of gold.
First of all, here is a composition of the HUI index:
Now here is a chart that plots the HUI index since Jan. 1, 2000. We can see that the HUI index had a very impressive run, from about $35 at the end of 2000 to about $635 last year. That is a much better performance that the S&P 500 index for example, which is now roughly at the same point as where it started about 12 years ago.
Chart courtesy stockcharts.com