re: "real gld mine companys can go up less than the gld"
Gold out of the ground is worth a LOT more than gold in the ground.
Gold in the ground carries all kinds of risks... risk that there might not be as much as thought... risk that currency fluctuations might make mining more expensive... risk that the workers might strike... risk that insurance costs will rise... risk of further regulation... etc. And the fact is, most productive gold mines will be shut down in less than ten years. Productivity today doesn't mean productivity tomorrow. So, a gold miner's stock isn't going to rise unless the (PREDICTED FUTURE GOLD PRICE * THE COMPANY'S PRODUCTIVITY) MINUS THE COMPANY'S EXPENSES nets a larger figure today than it did yesterday.