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 811-21698

GAMCO Global Gold, Natural Resources & Income Trust

(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).

The Report to Shareholders is attached herewith.

GAMCO Global Gold, Natural Resources & Income Trust

Semiannual Report — June 30, 2024

(Y)our Portfolio Management Team



	Caesar M. P. Bryan	Vincent Hugonnard-Roche

To Our Shareholders,

For the six months ended June 30, 2024, the net asset value (NAV) total return of the GAMCO Global Gold, Natural Resources & Income Trust (the Fund) was 6.3%, compared with total returns of 7.6% and 10.2% for the Chicago Board Options Exchange (CBOE) Standard & Poor’s (S&P) 500 Buy/Write Index and the Philadelphia Gold & Silver Index (XAU), respectively. The total return for the Fund’s publicly traded shares was 12.8%. The Fund’s NAV per share was $4.03, while the price of the publicly traded shares closed at $4.05 on the NYSE American. See page 3 for additional performance information.

Enclosed are the financial statements, including the schedule of investments, as of June 30, 2024.

Investment Objective and Strategy (Unaudited)

The GAMCO Global Gold, Natural Resources & Income Trust is a non-diversified, closed-end management investment company. The Fund’s investment objective is to provide a high level of current income. The Fund’s secondary investment objective is to seek capital appreciation consistent with the Fund’s strategy and primary objective. Under normal market conditions, the Fund will attempt to achieve its objectives by investing 80% of its assets in equity securities of companies principally engaged in the gold and natural resource industries, and by writing covered call options on the underlying equity securities.

As permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the Fund’s annual and semiannual shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports. Instead, the reports will be made available on the Fund’s website (www.gabelli.com), and you will be notified by mail each time a report is posted and provided with a website link to access the report. If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. To elect to receive all future reports on paper free of charge, please contact your financial intermediary, or, if you invest directly with the Fund, you may call 800-422-3554 or send an email request to info@gabelli.com.

Performance Discussion (Unaudited)

The first half of 2024 was very challenging for the gold portion of the portfolio. The first quarter saw the price of gold mining stocks fall 16.7% to a 102.94 trough at the end of February, then rallied 23.4%. Two factors contributed to this excess volatility, which was not discounted in the options market. First was the inflation of the all-in cost to extract gold, which affects the valuation of mining companies. Second was the disconnect between the price of gold and real rates. 10-year real rates went from 1.7% to 2.0% during the quarter, while bullion prices increased by 8.1%. In the second quarter the Philadelphia Gold and Silver Index (XAU) first rallied 17.8% before correcting by close to -10%, to finish the quarter up 8.7%. Newmont Corp (4.9% of total investments as of June 30, 2024) benefited and was a positive contributor to the portfolio.

The energy sector is clearly showing signs of demand contraction, visible especially through refining margins which contracted significantly during the second quarter. Meanwhile, production held steady, with U.S. oil production flat at 13.2 million barrels per day, and OPEC production maintained at approximately 27 million barrels per day. Compliance is still in effect. Finally, the increased tension in the Middle East continues to add a premium to the price of oil, which ended the quarter down only 2%, while energy equities, represented by the Energy Select Sector. Exxon Mobil Corp. (6.3%) was a contributor from the energy sector.

We appreciate your confidence and trust.

The views expressed reflect the opinions of the Fund's portfolio managers and Gabelli Funds, LLC, the Adviser, as of the date of this report and are subject to change without notice based on changes in market, economic, or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

Comparative Results

Average Annual Returns through June 30, 2024 (a) (Unaudited)

	Six Months			1 Year			5 Year			10 Year			15 Year			Since Inception (3/31/05)
GAMCO Global Gold, Natural Resources & Income Trust (GGN)
NAV Total Return (b)		6.33	%		13.67	%		8.79	%		1.72	%		3.65	%		2.73	%
Investment Total Return (c)		12.79			18.69			8.71			1.96			3.71			2.68
CBOE S&P 500 Buy/Write Index		7.59			8.91			5.56			5.77			7.32			5.46
Bloomberg Government/Credit Bond Index		(0.70	)		2.72			(0.07	)		1.51			2.67			3.12
Energy Select Sector Index		10.58			16.24			12.92			3.10			7.87			7.12
Philadelphia Gold & Silver Index		10.20			16.53			11.96			4.35			1.19			3.25

(a)

Performance returns for periods of less than one year are not annualized. Returns represent past performance and do not guarantee future results. Investment returns and the principal value of an investment will fluctuate. The Fund's use of leverage may magnify the volatility of net asset value changes versus funds that do not employ leverage. When shares are sold, they may be worth more or less than their original cost. Current performance may be lower or higher than the performance data presented. Visit www.gabelli.com for performance information as of the most recent month end. The CBOE S&P 500 Buy/Write Index is an unmanaged benchmark index designed to reflect the return on a portfolio that consists of a long position in the stocks in the S&P 500 Index and a short position in a S&P 500 (SPX) call option. The Bloomberg Government/Credit Bond Index is a market value weighted index that tracks the performance of fixed rate, publicly placed, dollar denominated obligations. The Energy Select Sector Index is an unmanaged indicator of stock market performance of large U.S. companies involved in the development or production of energy products. The Philadelphia Gold & Silver Index is an unmanaged indicator of the stock market performance of large North American gold and silver companies. Dividends and interest income are considered reinvested. You cannot invest directly in an index.

(b)

Total returns and average annual returns reflect changes in the NAV per share and reinvestment of distributions at NAV on the ex-dividend date and are net of expenses. Since inception return is based on an initial NAV of $19.06.

(c)

Total returns and average annual returns reflect changes in closing market values on the NYSE American and reinvestment of distributions. Since inception return is based on an initial offering price of $20.00.

Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing.

Summary of Portfolio Holdings (Unaudited)

The following table presents portfolio holdings as a percent of total investments before options written as of June 30, 2024:

GAMCO Global Gold, Natural Resources & Income Trust

Long Positions

Metals and Mining	55.7	%
Energy and Energy Services	33.5	%
U.S. Government Obligations	10.5	%
Agriculture	0.3	%
	100.0	%

Short Positions

Call Options Written	(3.6)	%
Agriculture	(0.1)	%
Put Options Written	(0.0)	%*
Energy and Energy Services	(0.0)	%*
	(3.7)	%

Amount represents greater than (0.05)%.

The Fund files a complete schedule of portfolio holdings with the Securities and Exchange Commission (the SEC) for the first and third quarters of each fiscal year on Form N-PORT. Shareholders may obtain this information at www.gabelli.com or by calling the Fund at 800-GABELLI (800-422-3554). The Fund’s Form N-PORT is available on the SEC’s website at www.sec.gov and may also be reviewed and copied at the SEC’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 800-SEC-0330.

Proxy Voting

The Fund files Form N-PX with its complete proxy voting record for the twelve months ended June 30, no later than August 31 of each year. A description of the Fund’s proxy voting policies, procedures, and how each Fund voted proxies relating to portfolio securities is available without charge, upon request, by (i) calling 800-GABELLI (800-422-3554); (ii) writing to The Gabelli Funds at One Corporate Center, Rye, NY 10580-1422; or (iii) visiting the SEC’s website at www.sec.gov.

GAMCO Global Gold, Natural Resources & Income Trust

Schedule of Investments — June 30, 2024 (Unaudited)

Shares			Cost		Market Value
		COMMON STOCKS — 86.1%
		Energy and Energy Services — 33.5%
	40,100	APA Corp.(a)	$	2,804,306	$	1,180,544
	152,600	Baker Hughes Co.		6,395,879		5,366,942
	229,000	BP plc, ADR(a)		9,615,190		8,266,900
	159,148	Chevron Corp.(a)		28,031,244		24,893,930
	96,000	ConocoPhillips(a)		11,814,329		10,980,480
	115,100	Coterra Energy Inc.(a)		3,329,942		3,069,717
	101,200	Devon Energy Corp.		6,895,892		4,796,880
	28,300	Diamondback Energy Inc.		4,892,908		5,665,377
	268,500	Eni SpA		5,021,083		4,127,494
	90,000	EOG Resources Inc.(a)		11,971,275		11,328,300
	64,000	EQT Corp.		2,500,480		2,366,720
	393,903	Exxon Mobil Corp.(a)		44,954,666		45,346,158
	156,800	Halliburton Co.(a)		6,359,358		5,296,704
	25,200	Hess Corp.		3,904,962		3,717,504
	285,500	Kinder Morgan Inc.(a)		5,585,290		5,672,885
	91,000	Marathon Oil Corp.		2,174,911		2,608,970
	55,200	Marathon Petroleum Corp. (a)		9,375,491		9,576,096
	800	NextEra Energy Partners LP		44,182		22,112
	68,900	Occidental Petroleum Corp. (a)		4,680,704		4,342,767
	91,600	ONEOK Inc.		7,144,389		7,469,980
	68,400	Phillips 66(a)		9,581,393		9,656,028
	213,000	Schlumberger NV(a)		13,475,023		10,049,340
	278,000	Shell plc, ADR(a)		18,615,770		20,066,040
	108,900	Suncor Energy Inc.		4,429,689		4,149,090
	192,300	The Williams Companies Inc.(a)		8,933,803		8,172,750
	205,000	TotalEnergies SE, ADR(a)		13,654,896		13,669,400
	51,800	Valero Energy Corp.(a)		8,393,268		8,120,168
				254,580,323		239,979,276

		Metals and Mining — 52.6%
	294,015	Agnico Eagle Mines Ltd.(a)		19,910,567		19,228,581
	970,700	Alamos Gold Inc., Cl. A(a)		12,085,547		15,220,576
	385,500	Artemis Gold Inc.†		2,144,405		2,767,158
	351,000	Aya Gold & Silver Inc.†		1,935,607		3,484,215
	782,300	B2Gold Corp.(a)		2,793,718		2,112,210
	1,066,419	Barrick Gold Corp.(a)		23,782,998		17,787,869
	2,419,053	Bellevue Gold Ltd.†		2,646,455		2,880,544
	348,100	BHP Group Ltd., ADR(a)		22,499,530		19,873,029
	7,003,572	De Grey Mining Ltd.†		5,999,713		5,326,175
	650,000	Dundee Precious Metals Inc.		5,002,742		5,088,630
	988,000	Eldorado Gold Corp.†(a)		13,214,536		14,612,520
	702,600	Endeavour Mining plc		15,665,735		14,842,396
	3,618,729	Evolution Mining Ltd.		9,535,579		8,449,189
	171,600	Franco-Nevada Corp.(a)		25,693,329		20,338,032
	449,000	Freeport-McMoRan Inc.(a)		21,704,944		21,821,400
	550,000	Glencore plc		3,173,834		3,136,295

Shares			Cost		Market Value
	284,000	Gold Fields Ltd., ADR	$	4,394,630	$	4,231,600
	2,389,623	Gold Road Resources Ltd.		2,584,169		2,725,941
	1,181,700	K92 Mining Inc.†		6,194,295		6,780,706
	1,452,500	Karora Resources Inc.†		5,823,386		6,327,912
	2,645,500	Kinross Gold Corp.		18,929,926		22,010,560
	352,100	Lundin Gold Inc.		4,922,344		5,201,521
	302,500	MAG Silver Corp.†		4,660,274		3,530,175
	839,000	Newmont Corp.(a)		49,565,269		35,128,930
	2,808,526	Northern Star Resources Ltd.		19,288,891		24,356,380
	352,400	OceanaGold Corp.		759,488		808,842
	745,000	Osisko Gold Royalties Ltd.		11,464,168		11,607,100
	2,020,200	Osisko Mining Inc.†		5,240,907		4,223,363
	117,000	Pan American Silver Corp.		2,364,311		2,325,960
	3,910,294	Perseus Mining Ltd.		5,034,614		6,130,109
	300,000	Rio Tinto plc, ADR(a)		24,103,500		19,779,000
	109,400	Royal Gold Inc.		13,302,925		13,692,504
	540,000	Victoria Gold Corp.†		3,980,954		418,406
	506,900	Wesdome Gold Mines Ltd.†		4,969,668		4,083,212
	1,244,716	Westgold Resources Ltd.		1,857,089		2,009,447
	480,250	Wheaton Precious Metals Corp.(a)		25,305,723		25,174,705
				402,535,770		377,515,192

		TOTAL COMMON STOCKS		657,116,093		617,494,468

		EXCHANGE TRADED FUNDS — 0.3%
		Agriculture — 0.3%
	27,564	VanEck Agribusiness ETF		1,988,755		1,932,788

Principal Amount
		CONVERTIBLE CORPORATE BONDS — 0.5%
		Metals and Mining — 0.5%
$	2,250,000	Allied Gold Corp., 8.750%, 09/07/28(b)	2,223,244	2,216,250
	1,300,000	Fortuna Silver Mines Inc., 4.650%, 10/31/24	1,300,000	1,296,581
			3,523,244	3,512,831

		TOTAL CONVERTIBLE CORPORATE BONDS	3,523,244	3,512,831

		CORPORATE BONDS — 2.6%
		Energy and Energy Services — 0.0%
	245,000	Devon Energy Corp.,
		4.500%, 01/15/30	224,653	236,033

		Metals and Mining — 2.6%
	2,250,000	AngloGold Ashanti Holdings plc,
		3.750%, 10/01/30	1,962,583	1,966,758

See accompanying notes to financial statements.

GAMCO Global Gold, Natural Resources & Income Trust

Schedule of Investments (Continued) — June 30, 2024 (Unaudited)

Principal Amount			Cost		Market Value
		CORPORATE BONDS (Continued)
		Metals and Mining (Continued)
$	2,250,000	Freeport-McMoRan Inc.,
		4.125%, 03/01/28	$	2,128,789	$	2,158,842
2,000,000		Hecla Mining Co.,
		7.250%, 02/15/28		1,996,172		2,003,362
2,000,000		IAMGOLD Corp.,
		5.750%, 10/15/28(b)		2,000,000		1,892,006
3,700,000		Kinross Gold Corp.,
		6.250%, 07/15/33(b)		3,656,025		3,878,022
1,500,000		New Gold Inc.,
		7.500%, 07/15/27(b)		1,313,707		1,512,092
5,250,000		Northern Star Resources Ltd.,
		6.125%, 04/11/33(b)		5,188,628		5,306,451
				18,245,904		18,717,533

		TOTAL CORPORATE BONDS		18,470,557		18,953,566

		U.S. GOVERNMENT OBLIGATIONS — 10.5%
76,480,000		U.S. Treasury Bills, 5.235% to 5.320%††, 08/15/24 to 09/26/24(c)		75,698,082		75,697,216

TOTAL INVESTMENTS BEFORE OPTIONS WRITTEN AND SECURITIES SOLD SHORT — 100.0%			$	756,796,731		717,590,869

OPTIONS WRITTEN — (3.6)%
(Premiums received $23,333,292)						(26,163,497	)

SECURITIES SOLD SHORT — (0.1)%
(Proceeds received $796,311)						(737,336	)

Other Assets and Liabilities — (Net)						11,035,319

PREFERRED SHARES
(3,173,851 preferred shares outstanding)						(79,346,275	)

NET ASSETS — COMMON SHARES
(154,422,564 common shares outstanding)					$	622,379,080

NET ASSET VALUE PER COMMON SHARE
($622,379,080 ÷ 154,422,564 shares outstanding)					$	4.03

Shares			Proceeds		Market Value
		SECURITIES SOLD SHORT — (0.1)%
		Agriculture — (0.1)%
	10,200	VanEck Agribusiness ETF	$	765,687	$	715,224

		Energy and Energy Services — (0.0)%
	800	NextEra Energy Partners LP		30,624		22,112

		TOTAL SECURITIES SOLD SHORT(d)	$	796,311	$	737,336

SEC Form N-CSRS filed by GAMCO Global Gold Natural Resources & Income Trust