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: Larry S. who wrote (422)	11/16/1999 8:49:00 PM
From: Larry S.	Read Replies (1) of 972

Dan, Here is a little more on a comparison of the Barron's GMI and the XAU. The stocks for the GMI and the XAU with their percent of index for 11/15 are as follows: ------------GMI-----------------------XAU ASA-------30.1%---------------AU-----20.98% ABX-------17.6%---------------ABX----26.11% ECO--------3.8%---------------BMG-----2.31% HM-------- 6.7%---------------HM------8.34% NEM--------2.4%---------------NEM----13.76% PDG-------17,1%---------------PDG----14.93% FCX.B-----21.9%---------------FCX----11.13% ------------------------------ASL-----1.52% ------------------------------CDE-----0.34% ------------------------------HL------0.56% Pardon my crude attempt at creating a table that would post. I calculated the GMI for 11/15 as being 379.13. The XAU was 69.94. Note that, while the XAU includes 10 stocks and the GMI includes only 7, 5 stock dominate the XAU while 4 stocks dominate the GMI. Further, the most dominant stock in the GMI is ASA, while ABX is the most dominant in the XAU. I think it is also significant that the XAU includes FCX while the GMI includes the gold stock FCX.B. I would be interested in any comments you or anyone else may have on the comparison, particularly relative extent of hedging the relative impact of base metals or silver on the indexes. I don't recall enough about the various companies to comment on either. I'm out of time for now. However, I should mention that there appears an inconsistency between my calculation of the GMI and the latest value from Barron's. I don't have the prices for last Thursday, 11/11, to check my calculation with the 419.86 reported in Barron's but I will check this coming weekend. Today it appears to be 374.63. I suspect that the 419.86 is in error. Cheers, Larry

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