Gold miners, represented by the ETF $GDX, are showing signs of a potential turnaround, with a notable performance in January 2025. The $GDX index recorded its best January gain since 2017, rising by 16.3%. Analysts suggest that gold may outperform equities during financial market downturns, highlighting its status as a 'sleeping giant' in investment strategies. Additionally, energy stocks are being viewed as a hedge against geopolitical risks and inflation resurgence, as the oil market outlook for 2025 remains uncertain amid ongoing demand concerns and geopolitical tensions.