<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the Scudder
Gold Fund Semiannual Report for the six months ended 4/30/2000 and is qualified
in its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000832946
<NAME> SCUDDER MUTUAL FUNDS, INC.
<SERIES>
<NUMBER> 001
<NAME> SCUDDER GOLD FUND
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-2000
<PERIOD-START> NOV-01-1999
<PERIOD-END> APR-30-2000
<INVESTMENTS-AT-COST> 95,513
<INVESTMENTS-AT-VALUE> 88,585
<RECEIVABLES> 439
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 89,024
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 513
<TOTAL-LIABILITIES> 513
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 191,557
<SHARES-COMMON-STOCK> 16,008
<SHARES-COMMON-PRIOR> 17,269
<ACCUMULATED-NII-CURRENT> (219)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (95,891)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (6,928)
<NET-ASSETS> 88,512
<DIVIDEND-INCOME> 876
<INTEREST-INCOME> 227
<OTHER-INCOME> 0
<EXPENSES-NET> 1,042
<NET-INVESTMENT-INCOME> 61
<REALIZED-GAINS-CURRENT> 543
<APPREC-INCREASE-CURRENT> (19,737)
<NET-CHANGE-FROM-OPS> (19,133)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,473)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 119,377
<NUMBER-OF-SHARES-REDEEMED> (127,926)
<SHARES-REINVESTED> 1,377
<NET-CHANGE-IN-ASSETS> (27,778)
<ACCUMULATED-NII-PRIOR> 1,192
<ACCUMULATED-GAINS-PRIOR> (96,434)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 520
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,068
<AVERAGE-NET-ASSETS> 104,564
<PER-SHARE-NAV-BEGIN> 6.73
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> (1.11)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (0.09)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 5.53
<EXPENSE-RATIO> 1.92
</TABLE>
