Frankly, a little nervous. They've lagged the market so much, I worry that when the market pulls back, the PMs could have a real breakdown. I was hoping the market could pull up the PMs, but it just doesn't seem to be happening. I've lightened up on the gold plays and added to the platinum/palladium plays. Also have silver, just holding for now. Also been diversifying out of the PMs, but right now I'm doing more overall selling than buying.

That said, there is one major positive for the PMs - GDXJ has been outperforming GDX recently, which I consider to be bullish for the PMs. I suspect gold itself will stay in consolidation mode until the fall (possibly a stab up in the summer). If gold continues to consolidate, the PMs will trade up or down with the market, IMHO.