<SEC-DOCUMENT>0001193125-18-195331.txt : 20180801
<SEC-HEADER>0001193125-18-195331.hdr.sgml : 20180801
<ACCEPTANCE-DATETIME>20180618121059
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-18-195331
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20180618

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GAMCO Global Gold, Natural Resources & Income Trust
		CENTRAL INDEX KEY:			0001313510
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		ONE CORPORATE CENTER
		CITY:			RYE
		STATE:			NY
		ZIP:			10580-1422
		BUSINESS PHONE:		800.422.3554

	MAIL ADDRESS:	
		STREET 1:		ONE CORPORATE CENTER
		CITY:			RYE
		STATE:			NY
		ZIP:			10580-1422

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GAMCO Global Gold, Natural Resources & Income Trust by Gabelli
		DATE OF NAME CHANGE:	20111222

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Gabelli Global Gold, Natural Resources & Income Trust
		DATE OF NAME CHANGE:	20050112

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Gabelli Gold, Natural Resources & Income Trust
		DATE OF NAME CHANGE:	20050105
</SEC-HEADER>
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<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:54%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">June&nbsp;5, 2018 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>VIA EDGAR </U></B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Kenneth Ellington </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Staff Accountant </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Disclosure Review Office </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Investment Management </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities and Exchange
Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street N.E. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, DC 20549 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">RE:&nbsp;&nbsp;&nbsp;&nbsp;<U>Gabelli <FONT STYLE="white-space:nowrap">Closed-End</FONT> Funds</U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Mr.&nbsp;Ellington: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Thank you for your
oral comments provided May&nbsp;8, 2018, regarding your Sarbanes-Oxley review of the 2017 annual reports (the &#147;<U>Annual Reports</U>&#148;) for the Gabelli <FONT STYLE="white-space:nowrap">closed-end</FONT> funds listed on Annex A attached
hereto (the &#147;<U>Funds</U>&#148;) provided to counsel for the Funds. The Funds have considered your comments and authorized us to respond on their behalf as set forth below. Your oral comments are summarized in bold to the best of our
understanding, followed by the Funds&#146; responses. Capitalized terms not otherwise defined herein have the meanings ascribed to them in the applicable Annual Report(s). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">* * * * * * * </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr. Kenneth Ellington </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">June 5, 2018 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Page 2 </P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Comments and Responses </U></B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>1.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Each Fund&#146;s Form <FONT STYLE="white-space:nowrap">N-CSR,</FONT> Item 4(e)(2)(c)-(d), discloses 100%. This paragraph describes situations where the <FONT STYLE="white-space:nowrap">pre-approval</FONT> requirement
is waived. One of these situations is that the aggregate amount of all such services provided constitutes no more than 5% of the total amount of revenues paid by the audit client to its accountant during the fiscal year in which the services are
provided. By disclosing that 100% of the services were approved by the audit committee pursuant to this provision of Regulation <FONT STYLE="white-space:nowrap">S-X,</FONT> the Funds do not appear to be in compliance with the provision, as the
percentage is in excess of 5%. Please confirm that this disclosure is correct. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The Funds had interpreted Item 4(e)(2) of
Form <FONT STYLE="white-space:nowrap">N-CSR</FONT> to require disclosure of the percentage of all fees <FONT STYLE="white-space:nowrap">pre-approved</FONT> by the audit committee. In light of the Staff&#146;s comment, the Funds reviewed Item 4(e)(2)
and now understand that the Funds are required to disclose the percentage of fees for which <FONT STYLE="white-space:nowrap">pre-approval</FONT> was waived. The Funds confirm that there were no fees for which
<FONT STYLE="white-space:nowrap">pre-approval</FONT> was waived in each of the last two fiscal years. Accordingly, the correct response to Item 4(e)(2)(c)-(d) for each Fund is 0%. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>2.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>The accountant&#146;s report on internal control filed as an exhibit to GAMCO Global Gold, Natural Resources&nbsp;&amp; Income Trust&#146;s (&#147;<U>GGN</U>&#148;) Form <FONT STYLE="white-space:nowrap">N-SAR</FONT>
on March&nbsp;1, 2017 does not indicate the city and state where the accounting firm is located. Please confirm that the report retained in the Fund&#146;s books and records indicates the city and state where the accounting firm is located. In
future filings, please confirm that the copy of the report filed with Form <FONT STYLE="white-space:nowrap">N-SAR</FONT> includes the city and state where the accounting firm is located. </B></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The referenced accountant&#146;s report on internal control retained in the Fund&#146;s books and records does indicate the city and state
where the accounting firm is located. The Fund confirms that it will endeavor to ensure that copies of future such reports retained in its books and records and filed with its Form <FONT STYLE="white-space:nowrap">N-CENs</FONT> will include the city
and state where the accounting firm is located. In this regard, the Fund notes that the accountant&#146;s report on internal control filed as an exhibit to its Form <FONT STYLE="white-space:nowrap">N-SAR</FONT> on February&nbsp;28, 2018 indicates
the city and state where the accounting firm is located. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>3.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>The website link to the Annual Report for Ellsworth Growth and Income Fund Ltd. (&#147;<U>ECF</U>&#148;) brings the reader to the Fund&#146;s First Quarter Report for the quarter ended December&nbsp;31, 2017 instead
of to the Fund&#146;s Annual Report for the year ended September&nbsp;30, 2017. Please update the link as soon as possible. </B></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-&nbsp;2&nbsp;- </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr. Kenneth Ellington </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">June 5, 2018 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Page 3 </P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The Fund confirms that it has updated the link. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>4.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>ECF&#146;s Notes to Financial Statements provide that the Fund&#146;s investments in other investment companies generated seven (7)&nbsp;basis points of acquired fund fees and expenses (&#147;<U>AFFE</U>&#148;) for
each of the past two years; however, the prospectus in the registration statement on Form <FONT STYLE="white-space:nowrap">N-2</FONT> that was declared effective on August&nbsp;31, 2017 does not include an AFFE line item in the fee table, and it
appears that prospectus supplements filed since that date do not include an AFFE line item; please explain and ensure that any future prospectus supplements include AFFE in the fee table. </B></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The Fund confirms that it will disclose AFFE as a separate line item in the fee table where required in any future prospectus supplements. The
Fund notes that none of the takedowns from its shelf involved the sale of common shares. The Fund&#146;s omission of the AFFE line item in the fee table of the base prospectus was an oversight. The Fund further notes that its financial statements,
including the financial statement notes disclosing the AFFE, are incorporated by reference into the SAI, which is incorporated by reference into the base prospectus. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>5.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>It appears that GGN engages in short sales. Please ensure that any future prospectus supplements include dividend and interest expenses on short sales as a separate line item in the fee table. </B></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The Fund&#146;s dividend and interest expenses on short sales are disclosed as part of the line item &#147;Other Expenses&#148; in the Summary
of Fund Expenses in the prospectus in the Fund&#146;s registration statement on Form <FONT STYLE="white-space:nowrap">N-2</FONT> that was declared effective on April&nbsp;9, 2018. The Fund confirms that it will disclose dividend and interest
expenses on short sales as a separate line item in the Summary of Fund Expenses in any definitive base prospectus filed and in any applicable prospectus supplements filed to the extent such expenses are in excess of one basis point. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>6.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>The ratio of operating expenses to average net assets including liquidation value of preferred shares in the Funds&#146; Financial Highlights is not required to be disclosed; please remove this ratio or disclose it
as a footnote. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The Funds confirm that in future filings if they disclose the ratio of operating expenses to average net
assets including liquidation value of preferred shares, such ratio will be disclosed as a footnote to the Financial Highlights. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-&nbsp;3&nbsp;- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr. Kenneth Ellington </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">June 5, 2018 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Page 4 </P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">* * * * * * * </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Should you have any additional comments or concerns, please do not hesitate to contact me at (617)
<FONT STYLE="white-space:nowrap">573-4836</FONT> or Tom DeCapo at (617) <FONT STYLE="white-space:nowrap">573-4814.</FONT> </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top">Best regards,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">/s/ Kenneth E. Burdon</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Kenneth E. Burdon</TD></TR>
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 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-&nbsp;4&nbsp;- </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr. Kenneth Ellington </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">June 5, 2018 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Page 5 </P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Annex A </U></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="13%"></TD>
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<TD WIDTH="85%"></TD></TR>
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<TD VALIGN="bottom" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman"><B>Registration&nbsp;Number</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman"><B>Fund</B></P></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">811-04656</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Ellsworth Growth and Income Fund Ltd.</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">811-21698</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">GAMCO Global Gold, Natural Resources&nbsp;&amp; Income Trust</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-&nbsp;5&nbsp;- </P>

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