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Strategies & Market Trends : Precious Metals mutual funds (gold, silver, PGMs)
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To: Wade who wrote (914)3/2/2005 3:48:55 PM
From: Larry S.  Read Replies (1) of 972
 
Wade & Dan, et al,

I'm late again posting and neglected to record on week's data but the GMI/POG ratio hasn't changed significantly and I'm not aware of anything else of significance unless one counts the projection of so-called experts. There seems to be quite number that are expecting a further consolidation of PMs here and a final blow off of the broad markets before it and the dollar fall in a major way. On the other hand, it is a little bothersome that so many now believe we are in the middle of a major bull market in Commodities and that gold will trade for over $1000 in 2006 or 2007.

The GMI/POG ratio for the past two weeks:

On 2/17, the Barron's GMI was 654.41. up from the prior week's 631.--. With the POG similarly up at 427.10(2/18), the ratio up a little at 1.53.

On 2/24, the Barron's GMI was 665.25. up from the prior week's 654.41. With the POG similarly up at 434.25(2/25), the ratio essentailly unchanged at 1.53.

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 1.65, reflecting the fact that some of the optimism in the markets a few weeks earlier had returned.

Larry
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