According to @EricBalchunas, gold miner stocks have delivered more than double gold’s performance over the past 10 years, source: Eric Balchunas on X, Sep 12, 2025. This decade-long relative outperformance favors higher-beta miner exposure over bullion for momentum and pairs-trading screens, source: Eric Balchunas on X, Sep 12, 2025. Traders assessing equity proxies for gold can evaluate liquidity and execution in miner-focused ETFs such as GDX and GDXJ in light of the cited trend, source: Eric Balchunas on X, Sep 12, 2025.

According to @KobeissiLetter, the gold miners ETF GDX saw $531 million in net inflows in August, the biggest since November 2023 (source: The Kobeissi Letter on X, Sep 6, 2025). Investors bought $3.9 billion in gold-linked ETFs last week, the largest weekly inflow since April (source: The Kobeissi Letter on X, Sep 6, 2025). Year-to-date, the largest gold miners ETF has rallied 95%, outpacing gold’s 35% gain (source: The Kobeissi Letter on X, Sep 6, 2025). Newmont Corp. (NEM), the only gold miner in the S&P 500, is up 107% year-to-date, ranking as the index’s third-best performer (source: The Kobeissi Letter on X, Sep 6, 2025). The source does not indicate any direct impact on cryptocurrency markets (source: The Kobeissi Letter on X, Sep 6, 2025).