As hilarious as I think it is that we send gigantic inflated likenesses of animated characters like Betty Boop and Bugs Bunny down Broadway every year, I didn't need to watch that parade. I've already seen this year's holiday parade, as the precious metals miners strutted down Wall Street with a joyous holiday rally.

Beginning last Friday with a sudden lift in gold and silver prices that has held up well thus far, the mining shares marched upward in unison with a gumption that this Fool has not seen in several months. Without any company-specific news to point to, South Africa-based Gold Fields (NYSE:GFI) surged more than 50% from last Thursday's close of $5.33 to close at $8.38 on Wednesday. Even shares of the world's biggest gold miners rose like Shrek on helium, with Newmont Mining (NYSE:NEM) and Barrick Gold (NYSE:ABX) each climbing more than 38% in the past several days.

Of course, these stocks have a long way to go before approaching full recovery from what has become a monster correction in the multiyear bull market for precious metals. Despite an 83% surge for silver miner Coeur d'Alene (NYSE:CDE) over the past four trading days, those shares remain 87% below their 52-week high. Competitor Hecla Mining (NYSE:HL) tells a similar story, standing 82% below its high mark despite a quick double from its $1.10 close last Thursday .

Intermediate-scale gold producer Yamana Gold (NYSE:AUY) has surged 55% since last Thursday, and stands more than 30% higher than it did when I suggested that yawanna have Yamana. Just a week after acquiring the Lobo-Marte mine from Teck Cominco and Anglo American, Kinross Gold (NYSE:KGC) is shining 39% brighter.

I'd have to be a lower-case-f fool to try to call a bottom in this immensely volatile market, and that is certainly not what I am doing here. The road to recovery for these battered mining stocks is likely to include some steep peaks and valleys. After watching the precious metals mining sector deteriorate from supposed safe haven to a cavernous sinkhole, I have learned to be thankful for small victories. For now, Fools invested in these miners can give thanks that mounting pressures upon their ability to maintain profitable operations have at least eased somewhat. Let's just hope this rally doesn't pop like a parade balloon.

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This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.