Do gifted students adjust poorly to their social environment? There are currently two competing positions: one that sustains that giftedness is by itself a risk factor for social adaptation, and another that holds that high cognitive abilities involve distinctive features that are protective and hence increase individual resilience. Empirical support has been provided for both positions. This paper provides data from a study performed with 50 Spanish-speaking gifted children and adolescents using a comparison group of 50 average-ability peers matched by sex and chronological age. The results show no significant differences between gifted students and their peers on global measures of adjustment. Instead, they suggest that gifted students are neither significantly more poorly nor better adjusted than their peers during different age periods. Our analysis of the results provides moderate support for the resilience position. (Contains 4 tables.)