This parabolic ascension is attractive for those who decided to get in early. While enticing, I would encourage investors lacking exposure to funds like IBB and the SPDR S&P Biotech ETF ( XBI) to avoid chasing gains here.

Market Vectors Gold Miners ETF ( GDX)

Gold miners spent much of the past week heading higher. Any gains, however, were dashed on Friday as the fund succumbed to its 200-day moving average. Looking to the days ahead, it will be interesting to see if this level will be tested once again.

Despite the metal's designation as a safe haven, gold-related funds like GDX and iShares Gold Trust ( IAU) have staged impressive rallies during the opening weeks of the year, following the broader market higher. Investors and market followers are questioning whether gold miners, after a disappointing showing in 2011, can find some footing in the months ahead.

Written by Don Dion in Williamstown, Mass.

RELATED ARTICLES:


At the time of publication, Dion Money Management owned iShares Gold Trust.

If you liked this article you might like

With Eyes on Solar Eclipse, Wall Street Stumbles Yet Again

Dow Scores Ninth Straight Record Close With Tiny Gains, S&P 500 at All-Time High

Dow Is Back on Track to Close at a Record High as Consumer Staples Lead

Nasdaq Tumbles as Tech Takes a Turn Lower