Firstly I would like to remind you one of the charts illustrating the gold miners' relative strength against gold:
Despite a long term up trend in gold, recently the precious metals miners have been dramatically undervalued against gold. But presently the situation is very interesting. Let us look at the chart below:
As in August 2013 and in February 2014, PM miners are trying to set free from gold. Despite gold going nowhere, the prices of PM miners are going higher. Please, study these markets carefully. If we can see the breakdown in the relative strength of PM miners against gold, the big bull run in PM miners stocks could start.
In the end, just a look at things from a different perspective....