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What does BUGS Index HUI mean?

HUI is an index for Basket of Unhedged Gold Stocks (BUGS). The basket contains of 15 largest gold mining American companies that do not hedge their production more than a year-and-a-half into the future. This is also known as the AMEX Gold BUGS Index or The NYSE Arca Gold BUGS Index or simply Gold BUGS Index. 

Futures Knowledge Explains BUGS Index HUI

The index is based on stock prices of 15 gold mining companies. All but a few major companies carry equal weights in the index. So it is a modified equal dollar weighted index. The index is normally closely related to the gold price. For example, gold price declined from $1240 to $1183 per oz. in three months (Feb –May 2015) while the HUI declined from 204 to 173 during the period. This relationship is used by Investors while investing in gold or gold companies.

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