Exhibit (L)(2)
PURCHASE AGREEMENT
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Gabelli Gold Fund, Inc., (the "Fund"), a Maryland Corporation, and Gabelli &
Company, Inc. (the "Buyer") hereby agree as follows:
1. The Fund hereby offers the Buyer and the Buyer hereby purchases one
Class B Share (the "Share") of the Fund at a price of $10.00. The Share is the
"initial Class B Share" of the Fund. The Buyer hereby acknowledges receipt of a
purchase confirmation reflecting the purchase of the Share, and the Fund hereby
acknowledges receipt from the Buyer of funds in the amount of $10 in full
payment for the Share.
2. The Buyer represents and warrants to the Fund that the Share purchased
by the Buyer is being acquired for
investment purposes and not for the purpose of distribution.
3. This Agreement has been executed on behalf of the Fund by the
undersigned officer of the Fund in his or her capacity as an officer of the
Fund.
4. This Agreement may be executed in counterparts, each of which shall be
deemed to be an original, but such counterparts shall, together, constitute only
one instrument.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the 20th day of November, 2002.
Attest: GABELLI GOLD FUND, INC.
/S/ XXXXX X. XXXXX By:/S/ XXXXX X. XXXXXX
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Xxxxx X. XxXxx Xxxxx X. Xxxxxx
Secretary Vice President and Treasurer
Attest: GABELLI & COMPANY, INC.
/S/ XXXXX X. XXXXX By:/S/ XXXXXX X. XXXXXXX
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Xxxxx X. XxXxx Xxxxxx X. Xxxxxxx
Secretary Vice President and
Chief Financial Officer
