if the gold price can substantially break away from the 1700...

if the gold price can substantially break away from the 1700 level we have been glued to for the last month the sector might see a rerate. GDXJ is still around last year's highs but gold price substantially higher. if we get a couple more solid days of gold momentum i believe we could see GDXJ hitting 50-60 USD easily, that would definitely help as well. mind you the index traded up to 150 in 2011 at 1900 USD gold price. still definitely no exuberance in this market like back then...