Why is GDX, an etf that pays next to nothing in dividend, doing better at this juncture than GGN. GGN's yield is now 12% with it's recent loss and still dropping. I don't get it. I can understand investors may initially punish this fund for cutting the dividend but it now sells at a good discount to NAV and should stabilize. I can only guess that the really smart money believes the economy is not recovering and therefore energy will Plummet along with the metals under a deflation expectation. Again though, why is GDX performing better, this has never been the case in the past.