Comment: That explains TGLDX (Mining industry mutual fund) ... but ...

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That explains TGLDX (Mining industry mutual fund) ... but ...

... It doesn't explain pure bullion holding company stocks. Companies like GTU:

https://www.google.com/finance?client=ob&q=NYSEAMEX:GTU

and CEF:

https://www.google.com/finance?q=NYSEAMEX%3Acef&ei=Z3-lULDhB...

are tanking, and all they do is hold bullion so essentially your investing in the bullion.