Both the gold and diamond grapples Auto reel. they are considered hook-shots and the devs are considering changing the names to better reflect this ^^
To make up for the decreased versatility hook shots have a far superior reel in speed making them great for traversing mountains, over lava, and can even launch a player up out of a hole in the ground
I Actually just completed a guide along with a video comparing all the grapples if you are curious:
