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The XAU Index represents the symbol of the Philadelphia Gold and Silver Sector Index. The XAU Index is a market capitalization index. The XAU Index tracks a group of companies involved in the mining of precious metals (i.e. the index was comprised of 16 companies in 2008). The XAU Index is arguably the most popular gold stock index. Another popular gold index is the HUI Index. Other gold indices include the SP TSX Gold Index and the CBOE Gold Index. At its inception in January 1979, the XAU Index was set at a value of 100. The XAU Index is reviewed quarterly when the Philadelphia Stock Exchange (PHLX) conducts its quarterly share update. In accordance with the rules of the PHLX, the XAU Index quarterly update is done when XAU Index options expire in March, June, September and December. PHLX can also, at its discretion, decide to add or remove companies from the XAU Index to respond to changes in the the gold and silver industries and to ensure that the companies included in the XAU Index are still a fair representation of the gold and silver mining sector.
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