Gold Bullion or Gold Miners: Which Fits Your Portfolio Better? GDX vs AAAU

This comparison misses the fundamental point for stackers. AAAU tracks physical gold prices but you're still playing paper games with counterparty risk. GDX amplifies gold moves but adds mining operational risk, geopolitical exposure, and management incompetence. When gold runs, miners should outperform. When gold drops, they crater harder. The real question isn't which ETF to buy - it's why you're not holding physical metal. At $4505 gold, both ETFs become exit liquidity for institutions. Stack physical. Control your own metal. Skip the middlemen entirely.