With the odds of a Fed rate hike down to 12.7%, it's looking likely that the rate environment will stay favorable for gold next Wednesday. We're also seeing a little deceleration in stocks due to the Coronavirus, with China stocks already having taken a big loss, and US travel stocks also suffering. We've now had one Coronavirus case in the US, and there are likely to be reports of more cases in the coming weeks. A significant downturn in US stocks due to Coronavirus panic could be good for gold. Thus GDXJ probably makes a good hedge against positions in the major US stock indexes moving forward.