What is the Philadelphia Gold and Silver Index?

The Philadelphia Gold and Silver Index is a stock market index containing thirty precious metal mining companies that trade on the Philadelphia Stock Exchange. It is one of the most watched gold indices on the market.

Where have you heard about the Philadelphia Gold and Silver Index?

Many high-profile and well-known companies are listed on the Philadelphia Gold and Silver Index, including Goldcorp Inc., New Gold Inc., Seabridge Gold Inc. and Barrick Gold Corporation. The index is represented by the symbol 'XAU'.

What you need to know about the Philadelphia Gold and Silver Index.

As mentioned above, the Philadelphia Gold and Silver Index is one of the two most watched gold indices on the market; the other being the NYSE Arca Gold BUGS Index. Unlike the Arca Gold Index, the Philadelphia Gold and Silver Index includes stocks of gold producers that hedge their sales through forward sales. Launched in 1979 with an index base at 100 points, the index is calculated in US dollars (with no dividends included in the calculation) and correlates with the prices of gold and silver.