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Daily Price as of 05/24/19

NAV DAILY CHANGE
$7.62 $0.06 / +0.8%

Class A Details: INIVX

INCEPTION DATE GROSS/NET EXPENSES1
02/10/56 1.47%/1.45%

Commentary: April 2019

 Commentary: April 2019

By: Joe Foster, Portfolio Manager

Unearthing ESG in the Gold Industry

  • As global risks eased somewhat in April and safe-haven demand softened, gold ended the month at $1,283.55 per ounce.

  • Despite beating analyst expectations on GDP growth, the U.S. economy is not firing on all cylinders.
  • Mining companies have, over the years, learned the importance of employees and their families, local communities or tribes, state/provincial and national governments, and the environment as key stakeholders.
  • The positive impact gold companies may have on the communities and countries in which they operate tends to be an untold story. We highlight several examples of activities that we find compelling.

Read the full Blog Post:Unearthing ESG in the Gold Industry

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Video Viewpoint: Gold

Technology and Innovation in Gold Mining

Imaru Casanova
Deputy Portfolio Manager

Technology and innovation is becoming increasingly evident in the gold sector. Deputy Portfolio Manager Ima Casanova discusses how technology is currently being adopting today and how that impacts future expectations for mining.

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Financial Risks Position Gold for Bullish Turn

Joe Foster
Portfolio Manager

Portfolio Manager Joe Foster discusses his outlook for gold, including the expected impact of the accumulated financial risks on gold. He also examines the recent merger between Barrick and Randgold, which epitomizes strength among gold miners.

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Examining Trends Over the Last 40 Years in the Gold Market

Joe Foster
Portfolio Manager

Gold mining has evolved over the last few decades. Joe Foster, with nearly 40 years’ experience as a geologist and portfolio manager, discusses trends in exploration, financials, and technology.

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Moving From the Field to Finance: A Look at VanEck’s Philosophy on Gold

Joe Foster
Portfolio Manager

Portfolio Manager Joe Foster has worked in the gold industry for nearly 40 years. His unique journey and decades of experience as both a gold geologist and portfolio manager provide the backdrop for his expert analysis on the gold markets.

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Still Shining Bright: Golden Anniversary for VanEck’s Gold Strategy

Jan van Eck
CEO

2018 marks the 50th anniversary of VanEck’s active gold strategy. CEO Jan van Eck discusses the origin of the gold strategy and its contribution to the firm’s growth and guiding investment philosophy.

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Rising Risk Strengthens Gold Outlook for 2018

Joe Foster
Portfolio Manager

Noting signs of a late-cycle economy and implications from new tax rules, Portfolio Manager Joe Foster explores catalysts that could strengthen gold prices and highlights where he sees the strongest growth potential.

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Gold Poised to Finish 2017 Strong

Joe Foster
Portfolio Manager

Joe Foster, Portfolio Manager, discusses catalysts for gold for the second half of 2017, current valuations, and evolutions in the gold market that will create a more efficient and less costly platform to trade gold.

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Is Gold Still a Safe Haven Asset?

Joe Foster
Portfolio Manager and Strategist, Gold and Precious Metals

"You look around the world and you’re likely to find someplace where gold is probably being used as a safe haven"

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The Many Uses of Gold

The Many Uses of Gold

As far back as 1500 BC, Egyptians and other ancient peoples used gold for currency, and its importance has not waned since. In today’s world, we may not carry gold coins in our pockets, but gold remains one of the most highly valued commodities for cultures across the globe.

Sound Currency
Gold’s historic role as a sound currency alternative is recognized universally — from farmers in India whose high-carat jewelry is a form of savings, to investors in the West who accumulate coins and bars, to central bankers around the globe who hold gold in their foreign exchange reserves.

Powerful Investment Tool
Today, gold is recognized as a potentially powerful tool in an investment portfolio. Gold may:

  • Keep pace with inflation and offer a hedge against currency devaluation.
     
  • Generate positive returns in periods of economic stress and political/economic upheaval.
     
  • Provide diversification through a low correlation to the movements of the financial markets.
     

Important Disclosure 

Portfolio facts and statistics are shown for Class A shares only unless otherwise noted; other classes may have different characteristics 

NAV: Unless you are eligible for a waiver, the public offering price you pay when you buy Class A shares of the Fund is the Net Asset Value (NAV) of the shares plus an initial sales charge. The initial sales charge varies depending upon the size of your purchase. No sales charge is imposed where Class A or Class C shares are issued to you pursuant to the automatic investment of income dividends or capital gains distributions. It is the responsibility of the financial intermediary to ensure that the investor obtains the proper “breakpoint” discount. Class C, Class I and Class Y do not have an initial sales charge; however, Class C does charge a contingent deferred redemption charge. See the prospectus and summary prospectus for more information.

1Van Eck Associates Corporation (the “Adviser”) has agreed to waive fees and/or pay Fund expenses to the extent necessary to prevent the operating expenses of the Fund (excluding acquired fund fees and expenses, interest expense, trading expenses, dividends and interest payments on securities sold short, taxes and extraordinary expenses) from exceeding 1.45% for Class A, 2.20% for Class C, 1.00% for Class I, and 1.10% for Class Y of the Fund’s average daily net assets per year until May 1, 2020. During such time, the expense limitation is expected to continue until the Board of Trustees acts to discontinue all or a portion of such expense limitation.

2The NYSE Arca Gold Miners (GDMNTR) Index (the "Index") is a Net Total Return modified market capitalization weighted index comprised of publicly traded companies primarily involved in the mining of gold and silver in locations around the world. The U.S. Dollar Index (DXY) indicates the general international value of the U.S. dollar. The DXY does this by averaging the exchange rates between the U.S. dollar and six major world currencies. All indices are unmanaged and include the reinvestment of all dividends, but do not reflect the payment of transaction costs, advisory fees or expenses that are associated with an investment in the Fund. An index’s performance is not illustrative of the Fund’s performance. Indices are not securities in which investments can be made.

The views and opinions expressed are those of VanEck. Fund manager commentaries are general in nature and should not be construed as investment advice. Opinions are subject to change with market conditions. Any discussion of specific securities mentioned in the commentaries is neither an offer to sell nor a solicitation to buy these securities. Fund holdings will vary.

You can lose money by investing in the Fund. Any investment in the Fund should be part of an overall investment program, not a complete program. The Fund is subject to the risks associated with concentrating its assets in the gold industry, which can be significantly affected by international economic, monetary and political developments. The Fund’s overall portfolio may decline in value due to developments specific to the gold industry. The Fund’s investments in foreign securities involve risks related to adverse political and economic developments unique to a country or a region, currency fluctuations or controls, and the possibility of arbitrary action by foreign governments, or political, economic or social instability. The Fund is subject to risks associated with investments in Canadian issuers, commodities and commodity-linked derivatives, commodities and commodity-linked derivatives tax, gold-mining industry, derivatives, direct investments, emerging market securities, foreign currency transactions, foreign securities, other investment companies, management, market, non-diversification, operational, regulatory, small- and medium-capitalization companies and subsidiary risks.

Investing involves risk, including possible loss of principal. Please call 800.826.2333 or visit vaneck.com for a free prospectus and summary prospectus. An investor should consider investment objectives, risks, charges and expenses of the investment company carefully before investing. The prospectus and summary prospectus contain this and other information. Please read the prospectus and summary prospectus carefully before investing.