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 (427)	11/27/1999 10:40:00 PM
From: Larry S.	Read Replies (1) of 972

Dan, Very interesting. The XAU graph looks even more bullish if you go to a 5 year time frame. A money manager (very successful) that I used to deal with looked for nice rounded bottoms and it is clear that the XAU has formed a nice round bottom during the past two years. It appears to me that it has a solid foundation on which to build. However, as I said in a private email, your fund charts are even stronger evidence that the bottom is behind us. Though I don't believe it is as reliable, the continued low value of our Barron's GMI/POG ratio also supports this view. FWIW, on 11/24, the Barron's GMI was 373.60, up significantly from the previous week's 359.05. With the POG up to 297.50 (11/24), the ratio was 1.26, up from the previous week's 1.22. The ratio one year ago was 1.32. Note that, because of the Holiday, Barron's used Wednesday's closing prices. I had indicated last week that I couldn't reproduce the GMI values printed in Barron's and questioned the published values. However, I calculated the 373.60 using the closing values for 11/24. Cheers, Larry

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