After stunning gains last year, the precious metals are on their way to a spectacular month of January. While the month is not over, as we write, gold is up about 16%, silver is up more than 40%, and platinum is up 36%.   GDX, the global gold mining index, is up about 30%, about twice what the metal itself has done.  SIL, the ETF representing silver miners, is up about 41% so far this month. These numbers are changing fast, but you get our drift. These are spectacular gains by any measure. Rising demand and a lack of supply are a recipe for higher prices. China dominates both the supply and refining capacity for many of these critical metals, and it is clear that the US, in particular, should not depend on China, which hovers between rival and outright enemy. If we are correct, the forces underpinning the precious are strong, despite the risk for short-term corrections.