Inflation is creeping up in various parts of the economy.

In the long run, inflation is usually bad for the stock market. Higher interest rates and input costs lead to lower profits for most companies. Some companies, however, actually benefit from inflation.

These include gold miners. A significant part of their assets is gold, so when the price of gold rises the company becomes more valuable. This should result in a higher share price.

The Direxion Daily Gold Miners Index Bull 2X Shares ETF (NYSE: NUGT) invests in gold mining companies, but it also uses leverage. It's designed to move twice the amount of the index it follows.

This means as the price of the shares of gold miners move higher, this ETF should move higher by about twice as much.

Investors seeking protection from inflation, or maybe even ways to profit from it, should consider this ETF.