If you're holding a mutual fund in theory you're in for a long haul. And long term gold is going higher so keep holding. IMO this year is very similar to the 2005 where HUI is not doing great and lagging POG and majors are in the dog house. Things should turn around sometime this year when POG breaks through 700. Could be soon or could very well be in the fall - that I can't tell you but seniors will rally again and the gold funds should move higher as well. PMs are the most volatile place to be in so if you don't have a stomach for it, you should make your decision accordingly and summers usually are bad months for PMs but dollar usually rallies in the summer but with the economy in US turning anything is possible. This is a very general statement on my part as mutual funds usually like senior producers and it is dependand what your fund has in it, either way it's upto you if you can ride out the storm and be down 20-30% before seeing 100% profits - that's just how PM market is, long time to get up and a quick drops that just make people sick. Either way, all the best.