Gold etf vs XGD (in blue) gold miner index - 17 year chart. Up till about 2011 the Etf and the gold miner index traded fairly in syn. Since then a divergence grew wider as the gold price soften. if the view is gold is on the upswing then this divergence should narrow and the gap eventually close or even cross. something to thing about momentum will be with the miners once Gold starts trending up.
