"He does acknowledge that under normal circumstances we would expect the usual cyclic lackluster performance in Gold & Silver but in this case Sinclair says it's safer to hold and ride through the Summer with full positions"

Since we have hit extreme lows in the HUI/XAU/GDX:Gold ratio , I wouldn't be surprised to see the PM miners recover, while gold and silver are going sideways. After all, the shorts are betting on another general market collapse and when that doesn't happen in the face of all the worries in Europe and the US, they may start covering their short positions in the miners.