A typical index representing the market for precious metals miners is at about the same level as it was 15+ years ago, and quite well below where it was at the depths of the Finanical Crisis.

http://finance.yahoo.com/echarts?s=^XAU+Interactive#{%22range%22:%22max%22,%22allowChartStacking%22:true}

Another index, one representing metals and miners in general, looks equally as bad.

http://finance.yahoo.com/echarts?s=XME+Interactive#symbol=XME;range=my

Contrarians will argue that there has not been a better time in a generation to enter this sector.

Can it get worse from here? Sure, but historically speaking, the downside seems quite limited, while the upside potential appears quite dramatic.

Just something to think about on a slow day.

VP