Precious Metals mutual funds (gold, silver, PGMs) Message Board

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Strategies & Market Trends : Precious Metals mutual funds (gold, silver, PGMs)

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To: Dan P who wrote (904)	1/12/2005 12:12:03 PM
From: Larry S.	Read Replies (1) of 972

Wade & Dan, et al, It appears to me Dan that you were right on. But it also appears that the rally in PM related investments is resuming. The expanded trade deficit announcement this morning added to the dollar woes and comments by Snow is pushing it lower. I just hope is doesn't fall too fast. Epstein (Barron's Economic Beat Author) still sees the sun shining through the employment numbers and is positive about economic growth. So is Wanniski. I should also mention the comments of Arthur Laffer in a WSJ article a couple of weeks ago where he argues that the trade and current account deficits are a major positive and the result of a desirability of the USA as a place to invest. I've tried hard to see his logic but I think he is smoking something. Lease rate patterns over the past weeks haven't shown any short-term correlation with the POG and aren't telling me anything. I guess I just don't understand. I missed two weeks of GMI/POG ratio posts. Sorry but I was on vacaton and had the opportunity the put on skis for the first time in 30 years and went down the slopes with my Grandchildren. Fantastic experience. The GMI/POG ratio for the past week: On 12/23, the Barron's GMI was 659.53, up slightly from the week before's 651.90. With the POG up at 441.10 (12/24), the ratio up slightly at 1.50. On 12/30, the Barron's GMI was 658.24, down ever so slightly from the week before's 659.53. With the POG down at 435.60 (12/24), the ratio up at 1.51. On 1/06, the Barron's GMI was 611.31, down from the week before's 658.24. With the POG down at 422.20 (1/07), the ratio down at 1.45 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 1.67, indicating a higher level of optimism at that time. It may be of interest that the GMI was 705, significnatly higher. Larry

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