Don't Miss Out On This Gold ETF (DGP)

With gold soaring to a record high today, the ETF Professor is on the hunt for gold ETFs beyond the SPDR Gold Shares (NYSE: SPDR) that might be worth playing and he found one.

Well, it's an ETN, not an ETF. The PowerShares DB Gold Double Long ETN (NYSE: DGP). DGP doesn't hold physical gold, but it does track twice the daily performance of the Deutsche Bank Liquid Commodity Index.

Everyone will be watching GLD, but that doesn't mean there aren't opportunities elsewhere. And DGP isn't some thinly traded issue. It trades over 1.2 million shares per day and traded over twice that on Tuesday.