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Daily Price as of 12/12/19

$12.70 $-0.04 / -0.3%

Class I Details: INIIX

10/02/06 1.06%/1.00%

Latest Commentary

Latest Commentary

By: Joe Foster, Portfolio Manager

Gold’s Growth Strategy: Green or Brown, Cash or Stock?

  • Gold ended November at $1,463.95 per ounce, as markets fixated on whether or not a trade deal might happen between the U.S. and China.

  • The gold price remains above $1,450 as it enters its fourth month of correction, but with no end in sight to the spread of geopolitical turmoil, we believe gold might see significant gains in the coming year.
  • This is the first year that mine-site, or “brownfields”, budgets have accounted for the largest share of exploration spending. Past spending results were typically dominated by new, or “greenfields”, exploration.
  • Two companies (Kirkland Lake Gold and Continental Gold) were involved in mergers and acquisitions. In our view, Continental did it the right way (all cash), and its share price went up. We believe Kirkland did it the wrong way (all stock), and its share price went down.

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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.

View now

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, 2021. 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 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.