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Strategies & Market Trends : Precious Metals mutual funds (gold, silver, PGMs)
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To: Larry S. who wrote (930)6/19/2005 11:08:44 PM
From: Larry S.  Read Replies (1) of 972
 
Wade & Dan et al,

Barron's included its mid-year round table this past week and Zulauf, as well as several others, continue to be bullish on PMs long term. However, he sees a difficult period ahead of us (after August) and into possibly mid 2006. The majority also see the dollar resuming its fall going into 2006.

There was also an interview this week with Robert Shiller of Yale on the Housing Bubble. He sees it bursting by mid 2006 and a significant drop in prices.

Gold lease rates continue to be very very low but aren't telling me anything. So; I will get on with posting the Barron's GMI info for the past two weeks.

The GMI/POG ratio:

On 6/09, the Barron's GMI was 588.90 down from the previous week's 598.06. With the POG down at 422.55(6/10), the ratio was essentailly unchanged at 1.40.

On 6/16, the Barron's GMI was 634.18 up from the previous week's 588.90. With the POG also up at 437.50(6/17), the ratio was up at 1.45.

The ratio has moved up in the middle range but it doesn't suggest strongly a rise or drop in the POG. It is clear that there is little speculation behind the price of stocks at this time.

The ratio a year ago was 1.40, reflecting the fact that some of the optimism had been taken out of the markets.
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