Gold prices have dropped off and miners associated with the precious metal have been dragged along with them. However,  mining exchange traded funds (ETFs) have felt these steep declines before, and each decline has only made them stronger. Will this time be any different?

After a month of an appreciating U.S. dollar, coupled with a weakening gold, miners pulled through and recently came on top the one-day leader-board, writes Gary Gordon for ETF Expert.

Since the December high, Market Vectors Gold Miners (NYSEArca: GDX) and Market Vectors Gold Miners Juniors (NYSEArca: GDXJ) have dropped 17.5% and and 16%, respectively. [Junior gold miners luring gold ETF investors.]

GDX experienced similar sell-offs in other price peaks this year, and in each instance, the fund pushed even higher, incidentally setting new highs on its path upward. This begs the question of whether or not this similar situation could be the an opportune time to dip into miners, remarks Gordon.

Of course, if you are not that enthusiastic about the volatility in gold miners, a potential investor may consider SPDR S&P Metals & Mining (NYSEArca: XME) since it is less affected by the swings of a single underlying commodity. [Opportunities in metal ETFs.]