The major market averages have had a volatile start to the year, with the Nasdaq 100 (QQQ) declining more than 14% and the S&P-500 (SPY) down more than 9%. However, one ETF that has performed quite well among the turbulence is the Gold Miners Index (GDX). In fact, it has not given up any ground and is actually up 6% for the year. This can be attributed to a rising gold price, which should positively impact margins for miners on a sequential and year-over-year basis.
