gdx is high beta gold. go to and do a performance chart of $gold,gdx,$spx. from the peak in 2011 to the trough in 2016, gdx goes down more than gold. from the trough in 2016 to current gdx goes UP more than gold, but also with a LOT more volatility. this why i have a little bit of gdx and gdxj, but only a little bit. it adds a little spice to your gold holdings,