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Gold/Mining/Energy : Gold Price Monitor
GDXJ 121.93+0.8%Jan 9 4:00 PM EST
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To: long-gone who wrote (78129)10/8/2001 11:35:15 PM
From: goldsheet  Read Replies (1) of 116845
 
<It has dropped from $40ish to $27 in that period - the XAU would be over 60 without PD.>

If PD had not been in the XAU, then the XAU would have been over 60 by now
... BUT ....
when they take it out they adjust the divisor to keep the index at the same value (57.10 today).
The XAU was effectively punished by the drop of PD in the timeframe it was included.

P.S. If these changes had been done on January 1 instead of October 8,
my calculations tell me the divisor would be 399.92 instead of 458.024
and the XAU would now be 65.39 instead of 57.10.
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