Looking at the relative strength of the Gold group of possible trades Gold itself has been outperforming the Gold stocks and Silver and other related trades. This double bull Gold ETF:DGP is of course outperforming Gold as well and is what I'll focus on mainly. Note the underperformance of the major Gold stock ETF:GDX. Gold stocks have been underperforming Gold for a very long time now as they are stocks not the commodity and will selloff like stocks do.