Gold vs. GDX: The Best Way to Play Gold Right Now

GDX vs. gold: Why are gold stocks lagging, and how can investors find the real winners? Kitco’s Senior Mining Editor and Anchor Paul Harris interviews Garrett Goggin, founder of Golden Portfolio, at the 2025 Mines and Money Conference in Miami. Goggin shares his insights on the gold cycle, explaining why the GDX often underperforms compared to gold itself. He emphasizes the importance of free cash flow per share for driving gold stock prices and identifies an undervaluation in the mining sector. Goggin also touches on the potential impact of the U.S. Treasury marking its gold reserves to market and the possibility of a new gold standard. Key points: Focus on free cash flow: Mining companies must prioritize increasing free cash flow per share to drive stock prices. Miners are undervalued: Many large-cap miners are currently undervalued relative to their free cash flow. Gold's appeal: Gold is superior to treasury bonds because it cannot be easily seized like US treasury debt. Silver's volatility: Silver is more volatile than gold, and its miners face profitability challenges. Special thanks to our sponsor, Goldshore Resources, for making this coverage possible. Visit https://goldshoreresources.com/ to learn more. 00:00 Welcome: Garrett Goggin and Golden Portfolio 00:59 Understanding the Gold Cycle and GDX 03:18 Financial Results and Market Reactions 04:45 The Broader Gold Market and Investor Sentiment 09:34 Potential Gold Standard and U.S. Treasury Implications 13:42 Investment Strategies and Market Opportunities 16:13 Insights on Silver and High-Grade Miners Follow Paul Harris on X: @PaulHarrisGold (https://x.com/paulharrisgold) Follow Kitco Mining on X: @KitcoMining (https://x.com/kitcomining) #gold #GLD #investing #markets __________________________________________________________________ Kitco Mining is dedicated to reporting on the mining industry. Our mandate is to be the top resource for all mining information and news, offering a clear perspective on where the industry is going through breaking news coverage, mining trends, and in-depth reporting, presented with precious, rare earth, base metals, and industry stock prices. Get important precious and base metal updates while on the go with the Kitco Gold LIVE! app - https://applications.kitco.com Stay connected with us X - https://x.com/KitcoMining Instagram -   / kitcomining   LinkedIn -   / kitco-mining   Facebook -   / kitcomining   Connect with the Kitco Mining anchors Paul Harris - https://x.com/paulharrisgold For more in-depth mining coverage, visit us here - https://www.kitco.com/mining Disclaimer: Videos are not trading advice, and the views expressed may not reflect those of Kitco Metals Inc.