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      <invstOrSec>
        <name>CIBC WORLD MARKETS CORP.</name>
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        <name>OPPENHEIMER &amp; CO. INC.</name>
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        <name>CIBC WORLD MARKETS CORP.</name>
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        <name>NORTHERN STAR RESOU</name>
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      <invstOrSec>
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        <name>CBOE GLOBAL MARKETS, INC.</name>
        <lei>529900RLNSGA90UPEH54</lei>
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          <other otherDesc="ID_BB_GLOBAL" value="BBG01VC98696"/>
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      <invstOrSec>
        <name>GOLDMAN SACHS &amp; CO. LLC</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>GOLDMAN SACHS &amp; CO. LLC</counterpartyName>
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                <issueTitle>Lundin Gold Inc</issueTitle>
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            <expDt>2025-11-21</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-505425.53000000</unrealizedAppr>
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      <invstOrSec>
        <name>PIPER SANDLER COMPANIES</name>
        <lei>QUQDBTUSOAKFEVMRMF78</lei>
        <title>KINROSS GOLD CORP</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="ES12398104"/>
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        <balance>-3375.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-2897110.13000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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              <counterpartyName>PIPER SANDLER COMPANIES</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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                <issuerName>Kinross Gold Corp</issuerName>
                <issueTitle>Kinross Gold Corp</issueTitle>
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                  <cusip value="496902404"/>
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            <shareNo>100.00000000</shareNo>
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            <expDt>2025-12-19</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-2576485.13000000</unrealizedAppr>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>ENERGY SELECT SECTOR SPDR FUND</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="ES12377052"/>
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        <balance>-788.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-139806.72000000</valUSD>
        <pctVal>-0.01762080380</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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              <counterpartyName>MORGAN STANLEY &amp; CO. LLC</counterpartyName>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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                <issuerName>Energy Select Sector SPDR Fund</issuerName>
                <issueTitle>Energy Select Sector SPDR Fund</issueTitle>
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                  <cusip value="81369Y506"/>
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                  <ticker value="XLE"/>
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            <expDt>2026-02-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>106837.28000000</unrealizedAppr>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PIPER SANDLER COMPANIES</name>
        <lei>QUQDBTUSOAKFEVMRMF78</lei>
        <title>ELDORADO GOLD CORP</title>
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          <other otherDesc="INTERNAL" value="ES12396509"/>
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      <invstOrSec>
        <name>CITIGROUP GLOBAL MARKETS INC.</name>
        <lei>MBNUM2BPBDO7JBLYG310</lei>
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        <name>CITIGROUP GLOBAL MARKETS INC.</name>
        <lei>MBNUM2BPBDO7JBLYG310</lei>
        <title>SHELL PLC</title>
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        <name>Chevron Corp</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>J.P. MORGAN SECURITIES LLC</name>
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        <name>ANGLOGOLD HOLDINGS PLC</name>
        <lei>213800745ZIXC4L6A131</lei>
        <title>AngloGold Ashanti Holdings PLC</title>
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        <balance>2250000.00000000</balance>
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        <name>OPPENHEIMER &amp; CO. INC.</name>
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        <name>CIBC WORLD MARKETS CORP.</name>
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        <name>IAMGOLD CORP</name>
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        <name>RBC CAPITAL MARKETS, LLC</name>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>OPPENHEIMER &amp; CO. INC.</name>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>SCOTIA CAPITAL (USA) INC.</counterpartyName>
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                <issuerName>Anglogold Ashanti Plc</issuerName>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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    <signature>
      <ncom:dateSigned>2025-11-28</ncom:dateSigned>
      <ncom:nameOfApplicant>GAMCO Global Gold, Natural Resources &amp; Income Trust</ncom:nameOfApplicant>
      <ncom:signature>John C. Ball</ncom:signature>
      <ncom:signerName>John C. Ball</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>