NEW YORK (TheStreet) -- Gold prices are up 3% in 2014, compared to a relatively flat S&P 500. TheStreet's Gregg Greenberg is with Jon Najarian, co-founder of OptionMonster.com, to discuss gold trading.

Najarian said that at the end of 2013, there was likely a lot of tax-loss selling of gold by investors looking to offset gains in other assets for the year. 

For the long term, he said he is long the physical metal but prefers the Market Vectors Gold Miners ETF (GDX) and the Market Vectors Junior Gold Miners ETF (GDXJ) for short-term moves. 

Najarian also said he holds physical gold as a safety play and doesn't trade it -- that task is reserved for the mining ETFs. 

He added that the miners, especially the juniors, rally more than gold when the metal's price is rising but also sell off more than gold when its price declines.

At current levels, Najarian was comfortable owning the GDXJ, which is up roughly 11% year to date and has demonstrated solid price action. 

In regard to silver, he said it also outperforms gold to the upside and downside. However, Najarian concluded that there has not been any unusual activity in the silver options to get him interested in the metal. 

-- Written by Bret Kenwell in Petoskey, Mich.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

More from Opinion

AAP Exclusive: Cramer Says The President is No Longer on the Side of the Bulls

AAP Exclusive: Cramer Says The President is No Longer on the Side of the Bulls

Why It Makes Perfect Sense for Netflix and Amazon to Buy Up Movie Theaters

Why It Makes Perfect Sense for Netflix and Amazon to Buy Up Movie Theaters

2 More Reasons to Sell All Your Stocks and Run Away

2 More Reasons to Sell All Your Stocks and Run Away

Sean Hannity's Link to Trump Lawyer Raises Questions: Doug Kass Insider

Sean Hannity's Link to Trump Lawyer Raises Questions: Doug Kass Insider

Netflix Blowout Earnings Remind Investors of One Thing: This Company Is a Beast

Netflix Blowout Earnings Remind Investors of One Thing: This Company Is a Beast