The below link video explains the historical relationship between oil and mining share price ratios. It could be indicating that things are getting ready to get interesting.

On a different, but related, matter, as you may have noticed this morning, gold reacted down some to news that the Greece debt issue was heating up again. The theory here is that whenever this happens the Euro declines some and the US dollar rises some. That then usually has some impact on gold pricing. There are a handful of pundits who have been saying that the Greek crisis will worsen resulting in either further defaults on their debts or their leaving the Euro. When and if this happens it is suspected the Euro will decline for a short while causing the metals and shares to take a short term hit as well. It is believed by some that Greece's crisis will come to a head by March or April.

There is increasing indication the US is positioning troops and equipment around Iran. If the US or Israel initiate a pre-emptive attack, or if Iran takes the initiative towards military conflict, oil will rise. The average guess is oil could hit as high as $150 a bbl. Things could cool down. But if they don't, pundits profess, oil could begin to rise a lot this spring. This to could cause the metals and the shares to kick into high gear.

You probably noticed the US Fed's Bernanke's comments last week about QE, ongoing operation twist, some call it QE light, others call it QE-2.5. . . . Bernanke also implied that the US Fed is prepared to kick in a new QE initiative if need be. The pundits argue that it will happen sometime by May-July. The timing could coincide with any of the above considerations as well as with the upcoming Presidential and Congressional election. This to would have a big impact on precious metals and shares rising.

So, these are but a few factors, among other's as well, any one of which could drive gold and the shares skyward. Lastly, the US and European debts continues to grow. The attendent issues, by themselves, will bouy the metals and shares over an extended time. Higher than average inflation is virtually assured for 2+ years. The current CPI method of inflation is a "rigged" formula. It computes only about 1/3rd of the real inflation that was computed prior to the 1990's. So, if the CPI is at 3%, real inflation is closer to 9%. Bernanke has said he wants higher than average inflation for an extended period. By doing so, government's can inflate away some of their debts at the expense of citizen's standard's of living. Gold rises!

Here is the oil to mining shares ratio explanation, if interested in a boring 7 min. video. In the interim, although the Greece crisis could cause some temporary, perhaps even short termed significant set backs in gold and shares, the conditions, of which there are more than one, for gold and the shares to rise seem pretty assured in 2012, and perhaps could begin at any time, between now and July or August. If PEM's successes continue, which I believe it will, the share price will hopefully excell as well, with or without the above. Obviously, we all are counting on it.

http://goldsilver.com/video/gold-stocks-to-rally-like-during-the-great-depression-and-early-70s/