• Daily Price   as of 02/24/17

    $10.37 $-0.21 / -2.0%
  • Class Y Details: INIYX

    04/30/10 1.21%/1.10%
  • Commentary: December 2016

    Joe Foster Commentary Tab

    By: Joe Foster, Portfolio Manager

    Strong Year for Gold Despite Post-Election Stress

    • Both gold bullion and gold stocks experienced consolidation in December as the U.S. dollar reached new highs. Gold bullion declined 1.8% while gold stocks gained 1.1% over the month.

    • 2016 was a strong year and turning point for the gold market with bullion up 8.6%, its first annual gain in four years, and gold stocks returning 54.4%.
    • Despite market exuberance post-election, we still see many global financial risks that could help change the current sentiment towards gold and believe that gold is in the process of forming a base for what may become a long-term bull market.

    Read the full December Blog Post: Strong Year for Gold Despite Post-Election Stress

    Read Joe's Commentary

  • Video Viewpoint: Gold

    Gold Regains Strength After Post-Election Decline

    Joe Foster
    Portfolio Manager

    Joe Foster, Portfolio Manager, explains gold’s recovery since the election and elaborates on where he sees opportunity in 2017.

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    Macro and Fundamental Factors Continue to Drive Gold

    Joe Foster
    Portfolio Manager

    Joe Foster, Portfolio Manager ans Strategist, discusses how monetary policy and commitment to cost cutting by gold miners may continue to drive gold.

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    Gold Bull Market Momentum to Continue in 2016

    Joe Foster
    Portfolio Manager

    Joe Foster, Portfolio Manager, explains why he believes the 2016 gold rally may continue as global financial uncertainty surrounding central bank policies potentially propel gold to new highs.

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    Higher Prices Help Gold Miners Refocus on Profitability

    Imaru Casanova
    Senior Analyst

    “Companies are still very much focused on efficiencies, operating improvements, and cost savings. But with higher gold prices, the conversation has switched back to how best to deploy new cash flow to enhance future growth and profitability.”

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    Gold Rebounds in 2016

    Joe Foster
    Portfolio Manager and Strategist, Gold and Precious Metals

    "Investors have a heightened sense of financial risk, and in this type of environment, they will look to gold as a safe haven. The U.S. dollar may be the first safe haven of choice, but when it looks shaky, investors turn to 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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    Economics of a Gold Mine

    Joe Foster
    Portfolio Manager and Strategist, Gold and Precious Metals

    "Mines are redesigned yearly if they need to be, and with the collapse of gold in 2013, we saw widespread revisions. Today, the industry is geared at a $1,100 gold price in terms of mining plans, with all-in sustaining costs for the mines at approximately $920 an ounce."

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    Finding the Next Generation Gold Company

    Joe Foster
    Portfolio Manager and Strategist, Gold and Precious Metals

    "Gold companies must create value in order to be successful, and there are several ways that a gold company does this. The most effective way is through discovery."

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  • The Many Uses of Gold

    Gold Globe

    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.

  • Additional Resources

  • 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.

    1Expenses are calculated for the 12-month period ending 05/01/16: Class A: Gross 1.43% and Net 1.43%; Class C: Gross 2.22 and Net 2.20%; Class I: Gross 1.07% and Net 1.00%; and Class Y: Gross 1.21% and Net 1.10%. Expenses are capped contractually through 05/01/17 at 1.45% for Class A; 2.20% for Class C; 1.00% for Class I; and 1.10% for Class Y. Caps exclude certain expenses, such as interest.

    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 debt securities, derivatives, commodity-linked instruments, illiquid securities, asset-backed securities, CMOs and small- or mid-cap companies. The Fund is also subject to inflation risk, short-sales risk, market risk, non-diversification risk, leverage risk, credit risk and counterparty risk. Please see the prospectus and summary prospectus for information on these as well as other risk considerations.

    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.