<PAGE> PAGE 1
000 A000000 12/31/94
000 C000000 832946
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 SCUDDER MUTUAL FUNDS, INC.
001 B000000 811-5565
001 C000000 6179511848
002 A000000 345 PARK AVENUE
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10154
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 1
007 C010100 1
007 C020100 SCUDDER GOLD FUND
007 C030100 N
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 37
019 C00AA00 SCUDDERRRR
020 A000001 YORKTON SECS INC.
020 C000001 36
020 A000002 LEHMAN BROS.
020 B000002 13-2663822
020 C000002 22
020 A000003 BURNS FRY
020 C000003 22
020 A000004 LOEWEN ONDAATJE
020 C000004 18
020 A000005 J.B. WERE
020 C000005 12
020 A000006 NESBITT THOMPSON
020 C000006 11
<PAGE> PAGE 2
020 A000007 DOMINION SECS
020 C000007 10
020 A000008 SCOTIA MCLEOD
020 C000008 8
020 A000009 ORD MINNETT
020 C000009 8
020 A000010 OFFAT
020 C000010 8
021 000000 200
022 A000001 MERRILL LYNCH
022 B000001 13-5674085
022 C000001 5652
022 D000001 11076
022 A000002 LEHMAN BROS.
022 B000002 13-2663822
022 C000002 3620
022 D000002 2275
022 A000003 SALOMON BROS.
022 B000003 13-3082694
022 C000003 3600
022 D000003 1349
022 A000004 UBS SECURITIES
022 C000004 0
022 D000004 3418
022 A000005 LOEWEN ONDAATJE
022 C000005 2853
022 D000005 528
022 A000006 BURNS FRY HOARE GOVETT
022 C000006 822
022 D000006 2367
022 A000007 DOMINION SECURITIES
022 C000007 2901
022 D000007 0
022 A000008 JAMES CAPEL
022 B000008 52-1348224
022 C000008 2564
022 D000008 0
022 A000009 OFFAT
022 C000009 0
022 D000009 2261
022 A000010 WEEDEN
022 B000010 13-3287114
022 C000010 0
022 D000010 1758
023 C000000 37823
023 D000000 32798
028 A01AA00 7575
028 A02AA00 0
028 A03AA00 0
028 A04AA00 -6721
028 B01AA00 10701
<PAGE> PAGE 3
028 B02AA00 0
028 B03AA00 0
028 B04AA00 -9648
028 C01AA00 30840
028 C02AA00 5975
028 C03AA00 0
028 C04AA00 -16560
028 D01AA00 12434
028 D02AA00 0
028 D03AA00 0
028 D04AA00 -16427
028 E01AA00 10435
028 E02AA00 0
028 E03AA00 0
028 E04AA00 -20124
028 F01AA00 12362
028 F02AA00 1636
028 F03AA00 0
028 F04AA00 -11910
028 G01AA00 84347
028 G02AA00 7611
028 G03AA00 0
028 G04AA00 -81390
028 H00AA00 0
055 A00AA00 N
055 B00AA00 N
056 00AA00 Y
057 00AA00 N
062 A00AA00 N
062 B00AA00 0.0
062 C00AA00 0.0
062 D00AA00 0.0
062 E00AA00 0.0
062 F00AA00 0.0
062 G00AA00 0.0
062 H00AA00 0.0
062 I00AA00 0.0
062 J00AA00 0.0
062 K00AA00 0.0
062 L00AA00 0.0
062 M00AA00 0.0
062 N00AA00 0.0
062 O00AA00 0.0
062 P00AA00 0.0
062 Q00AA00 0.0
062 R00AA00 0.0
071 A00AA00 33578
071 B00AA00 18657
071 C00AA00 125345
071 D00AA00 30
072 A00AA00 6
<PAGE> PAGE 4
072 B00AA00 245
072 C00AA00 414
072 D00AA00 0
072 E00AA00 0
072 F00AA00 682
072 G00AA00 0
072 H00AA00 0
072 I00AA00 208
072 J00AA00 92
072 K00AA00 0
072 L00AA00 37
072 M00AA00 10
072 N00AA00 52
072 O00AA00 0
072 P00AA00 0
072 Q00AA00 0
072 R00AA00 27
072 S00AA00 6
072 T00AA00 0
072 U00AA00 0
072 V00AA00 0
072 W00AA00 40
072 X00AA00 1154
072 Y00AA00 0
072 Z00AA00 -495
072AA00AA00 423
072BB00AA00 0
072CC01AA00 0
072CC02AA00 3850
072DD01AA00 2869
072DD02AA00 0
072EE00AA00 0
073 A01AA00 0.2500
073 A02AA00 0.0000
073 B00AA00 0.0000
073 C00AA00 0.0000
074 A00AA00 1
074 B00AA00 8628
074 C00AA00 0
074 D00AA00 2654
074 E00AA00 970
074 F00AA00 111956
074 G00AA00 0
074 H00AA00 0
074 I00AA00 8826
074 J00AA00 1149
074 K00AA00 0
074 L00AA00 1516
074 M00AA00 3
074 N00AA00 135703
074 O00AA00 4350
<PAGE> PAGE 5
074 P00AA00 101
074 Q00AA00 0
074 R01AA00 0
074 R02AA00 0
074 R03AA00 0
074 R04AA00 2863
074 S00AA00 0
074 T00AA00 128389
074 U01AA00 10963
074 U02AA00 0
074 V01AA00 11.71
074 V02AA00 0.00
074 W00AA00 0.0000
074 X00AA00 14465
074 Y00AA00 0
075 A00AA00 0
075 B00AA00 136139
076 00AA00 0.00
077 A000000 Y
077 B000000 N
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 N
077 Q020000 N
077 Q030000 Y
078 000000 N
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
080 C00AA00 60000
081 A00AA00 Y
081 B00AA00 70
082 A00AA00 N
082 B00AA00 0
SIGNATURE THOMAS F. MCDONOUGH
TITLE SECRETARY
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
Scudder Gold Fund Semi-Annual Report for the six month period ended
December 31, 1994 and is qualified in its entirety by reference to such
financial statements.
</LEGEND>
<SERIES>
<NUMBER> 1
<NAME> Scudder Gold Fund
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1995
<PERIOD-START> JUL-1-1994
<PERIOD-END> DEC-31-1994
<INVESTMENTS-AT-COST> 128,038,542
<INVESTMENTS-AT-VALUE> 132,572,708
<RECEIVABLES> 2,664,776
<ASSETS-OTHER> 3,258
<OTHER-ITEMS-ASSETS> 462,312
<TOTAL-ASSETS> 135,703,054
<PAYABLE-FOR-SECURITIES> 4,349,915
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,964,528
<TOTAL-LIABILITIES> 7,314,443
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 129,432,970
<SHARES-COMMON-STOCK> 10,963,180
<SHARES-COMMON-PRIOR> 10,277,443
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (4,708,510)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (868,238)
<ACCUM-APPREC-OR-DEPREC> 4,532,389
<NET-ASSETS> 128,388,611
<DIVIDEND-INCOME> 413,671
<INTEREST-INCOME> 244,571
<OTHER-INCOME> 0
<EXPENSES-NET> 1,153,771
<NET-INVESTMENT-INCOME> (495,529)
<REALIZED-GAINS-CURRENT> 423,120
<APPREC-INCREASE-CURRENT> (3,849,925)
<NET-CHANGE-FROM-OPS> (3,922,334)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2,869,449
<DISTRIBUTIONS-OF-GAINS> 5,244,182
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6,635,188
<NUMBER-OF-SHARES-REDEEMED> 6,538,404
<SHARES-REINVESTED> 588,953
<NET-CHANGE-IN-ASSETS> (1,467,771)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 3,952,824
<OVERDISTRIB-NII-PRIOR> (1,343,532)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 682,009
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,153,771
<AVERAGE-NET-ASSETS> 136,139,163
<PER-SHARE-NAV-BEGIN> 12.64
<PER-SHARE-NII> (.05)
<PER-SHARE-GAIN-APPREC> (.16)
<PER-SHARE-DIVIDEND> (.25)
<PER-SHARE-DISTRIBUTIONS> (.47)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.71
<EXPENSE-RATIO> 1.68
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
