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Strategies & Market Trends : Precious Metals mutual funds (gold, silver, PGMs)
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To: Wade who wrote (899)12/6/2004 10:21:55 PM
From: Larry S.  Read Replies (1) of 972
 
Wade & Dan, et al,

There wasn't anything of a major nature concerning PMs in Barron's last week. However, gold was mentioned favorably in the a couple of columns.

Lease rate patterns over the past weeks haven't suggested anything to me. However, the slightly higher rates do suggest that CBs are apparently less interested in leasing.
The GMI/POG ratio for the past week:

On 12/02, the Barron's GMI was 674.51, down significantly from the week before's last 708.58. With the POG essentially at 448.65 (12/03), the ratio essentially down significantly at 1.50.

The ratio continues in the middle range where it doesn't suggest a rise or drop in the POG. It is clear that there is very little speculation behind the price of stocks at this time.

The ratio a year ago was 1.78, indicating a higher level of speculation at that time.

Larry
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