Take a look at the precious metals market and the gains are astounding. For example, industry heavyweight Barrick Gold (ABX) is up around 115% so far this year. Other miners are up even more. And then there's the Direxion Daily Junior Gold Miners Index Bull 3x Shares (JNUG), which is up almost 250%. But don't get caught up in the numbers, you need to understand a lot more about this exchange traded fund before you jump aboard.
Leverage in a volatile place
If you pay any attention to precious metals, you know that the price of gold and silver can move both swiftly and dramatically over very short periods of time. For years leading into mid-January, the trend was mostly lower. But that changed and since mid-January precious metals have trended notably higher.
To put some numbers on that, gold started the year at around $1,060 an ounce. It was…
