Gotta watch out for the currency effect also. The Fed buying up junky debt now is good for some of the companies in the beaten down resources sector (miners, drillers, oil services, etc.). The dollar being off helps also. Oil price is now red on the day. The cheaper oil is against a higher gold price, the more favorable the financials are for the miners. Keep that in mind. Once you see juniors break out over seniors and the miners in general start leading the metals, it's a good signal for a bull market in the PM space.