UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-08518

Gabelli Gold Fund, Inc.

(Exact name of registrant as specified in charter)

One Corporate Center
Rye, New York 10580-1422

(Address of principal executive offices) (Zip code)

John C. Ball
Gabelli Funds, LLC
One Corporate Center
Rye, New York 10580-1422

(Name and address of agent for service)

Registrant’s telephone number, including area code: 1-800-422-3554

Date of fiscal year end: December 31

Date of reporting period: June 30, 2024

Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549-1090. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

Item 1. Reports to Stockholders.

(a)

Include a copy of the report transmitted to stockholders pursuant to Rule 30e-1 under the Act (17 CFR 270.30e-1).

Gabelli Gold Fund, Inc.

Class AAA - GOLDX

Semi-Annual Shareholder Report - June 30, 2024

Fund Overview

This semi-annual shareholder report contains important information about Gabelli Gold Fund, Inc. (the Fund) for the period of January 1, 2024 to June 30, 2024. The Gabelli Gold Fund’s investment objective is to provide investors with long term capital appreciation. The Fund’s investment strategy is to invest at least 80% of its net assets in equity securities of foreign and domestic issuers principally engaged in gold related activities and gold bullion. In selecting investments for the Fund, Gabelli Funds, LLC (the Adviser), focuses on stocks that are undervalued, but appear to have favorable prospects for growth. Factors considered include capitalization per ounce of gold production, capitalization per ounce of recoverable reserves, quality of management, and the issuer’s ability to create shareholder wealth. As most of the world’s gold production is outside of the United States, the Fund expects a significant portion of its assets may be invested in securities of foreign issuers, including those located in emerging markets. You can find additional information about the Fund at www.gabelli.com. You can also request this information by contacting us at 800-GABELLI (800-422-3554).

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Class Name	Costs of a $10k Investment	Costs Paid as a % of a $10k Investment
Gabelli Gold Fund, Inc. - Class AAA	$80	1.55%

How did the Fund perform?

During the six months ended June 30, 2024, the Gabelli Gold Fund underperformed its broad-based benchmark, the S&P 500 and its comparative benchmarks, NYSE Arca Gold Miners Index and the Philadelphia Gold & Silver Index. During the period, inflation headlines drove the gold price upwards, accelerated by central bank buying. This rise in the gold price does not appear to be based on the usual drivers: a weakening dollar, falling interest rates, or other factors, but rather on the current perceived geopolitical risks and high national debt levels.

How has the Fund performed over the past 10 years?

The performance chart of the fund class presented reflects a hypothetical $10,000 investment, assuming the maximum sales charge, compared to a broad-based securities market index and more narrowly based indices reflecting market sectors in which the Fund invests over a 10-year period. The chart uses total return NAV performance and assumes reinvestment of dividends and capital gains distribution. Fund expenses were deducted.

Total Return Based on a $10,000 Investment

	Gabelli Gold Fund, Inc. - Class AAA	S&P 500 Index	Philadelphia Gold & Silver Index	NYSE Arca Gold Miners Index
6/14	10,000	10,000	10,000	10,000
6/15	7,126	10,742	6,260	6,720
6/16	11,861	11,171	9,680	10,526
6/17	9,853	13,170	8,009	8,365
6/18	8,996	15,063	8,142	8,491
6/19	10,122	16,632	8,474	9,762
6/20	15,104	17,881	13,071	13,946
6/21	14,194	25,175	14,465	12,894
6/22	11,658	22,501	11,585	10,492
6/23	12,606	26,910	12,776	11,440
6/24	14,064	33,519	14,888	13,050

Average Annual Total Returns

Fund	6 months	1 Year	5 Year	10 Year
Gabelli Gold Fund, Inc. - Class AAA	6.47%	11.57%	6.80%	3.47%
S&P 500 Index	15.29%	24.56%	15.05%	12.86%
Philadelphia Gold & Silver Index	10.20%	16.53%	11.96%	4.35%
NYSE Arca Gold Miners Index	8.86%	14.07%	5.98%	2.70%

Fund Statistics

Total Net Assets$309,568,711
Number of Portfolio Holdings50
Portfolio Turnover Rate5%
Management Fees$1,512,241

Past performance does not guarantee future results. Call 800-GABELLI (800-422-3554) or visit www.gabelli.com for current month-end performance.

The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on fund distributions or the redemption of fund shares.

Updated Location: Visit www.confluence.com/funds for more recent performance information.

What did the Fund invest in?

Top 10 Holdings (% of net assets)

Top 10
Newmont Corp.	9.4%
Northern Star Resources Ltd.	6.1%
Wheaton Precious Metals Corp.	5.8%
Kinross Gold Corp.	5.6%
Agnico Eagle Mines Ltd., Toronto	5.0%
Franco-Nevada Corp.	5.0%
Barrick Gold Corp.	4.5%
Endeavour Mining plc	4.3%
Agnico Eagle Mines Ltd., New York	4.3%
Wesdome Gold Mines Ltd.	4.0%

Industry Allocation (% of net assets)

Industry Weighting	.
Metals and Mining	100.4%
Other Assets and Liabilities (Net)	(0.4)%

Portfolio Weighting (% of net assets)

Value	Value
Common Stocks	100.3%
Warrants	0.1%
Other Assets and Liabilities (Net)	(0.4)%

Gabelli Gold Fund, Inc.

Semi-Annual Shareholder Report - June 30, 2024

Class AAA - GOLDX

Where can I find additional information about the Fund?

If you wish to view additional information about the Fund; including but not limited to financial statements or holdings, please visit www.gabelli.com.

Phone: 800-GABELLI (800-422-3554)

Email: info@gabelli.com

Householding

If you wish to receive a copy of this document at a new address, contact 800-GABELLI (800-422-3554)

GOLDX-24-SATSR

Gabelli Gold Fund, Inc.

Class C - GLDCX

Semi-Annual Shareholder Report - June 30, 2024

Fund Overview

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Class Name	Costs of a $10k Investment	Costs Paid as a % of a $10k Investment
Gabelli Gold Fund, Inc. - Class C	$118	2.30%

How did the Fund perform?

How has the Fund performed over the past 10 years?

Total Return Based on a $10,000 Investment

	Gabelli Gold Fund, Inc. - Class C	S&P 500 Index	Philadelphia Gold & Silver Index	NYSE Arca Gold Miners Index
6/14	10,000	10,000	10,000	10,000
6/15	7,009	10,742	6,260	6,720
6/16	11,500	11,171	9,680	10,526
6/17	9,390	13,170	8,009	8,365
6/18	8,431	15,063	8,142	8,491
6/19	9,320	16,632	8,474	9,762
6/20	13,714	17,881	13,071	13,946
6/21	12,660	25,175	14,465	12,894
6/22	10,211	22,501	11,585	10,492
6/23	10,858	26,910	12,776	11,440
6/24	11,923	33,519	14,888	13,050

Average Annual Total Returns

Fund	6 months	1 Year	5 Year	10 Year
Gabelli Gold Fund, Inc. - Class C	5.13%	9.81%	6.02%	2.71%
S&P 500 Index	15.29%	24.56%	15.05%	12.86%
Philadelphia Gold & Silver Index	10.20%	16.53%	11.96%	4.35%
NYSE Arca Gold Miners Index	8.86%	14.07%	5.98%	2.70%

Fund Statistics

Total Net Assets$309,568,711
Number of Portfolio Holdings50
Portfolio Turnover Rate5%
Management Fees$1,512,241

Past performance does not guarantee future results. Call 800-GABELLI (800-422-3554) or visit www.gabelli.com for current month-end performance.

The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on fund distributions or the redemption of fund shares.

Updated Location: Visit www.confluence.com/funds for more recent performance information.