Yes, See content

I think as the Gold industry mature, P/E will come down. As inflation goes up, gold company's profit will not go much faster than gold.Plus they keep getting to lower grade or ore to preserve their mine life. It will compress their profit more. At same time, the people buying gold is in the new economies and people buying shares are north american who is becoming relative less well off. Moreoever, companies print too much share just like government print currency, the share tend to be deppressed in relative term. Only exception is juniors, which people speculate on. Since they produce very profit, P/E makes no deference. So at last stage of crazy hype, these shares will go wild. However, when gold fever is gone, these companies will crash and a lot of them will go to zero.

So I will load pgysical silver and physical based ETF first before buying shares.

One caution: silver might be over bought at present time. It need to settle down. Gold will be good in the next little while.