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 (573)	5/28/2001 11:03:09 PM
From: Larry S.	Read Replies (1) of 972

Dan, et al, Yes, the rally in the shares of gold companies may have cooled off. It is not clear to me whether they are consolidating before a further move up or are going back down. But, it seems clear that the strong dollar isn't helping and it doesn't look ready to correct. FWIW, the Commodities Corner in this week's Barron's is devoted to gold and gold share. It gives a relatively bearish view but it relies heavily on the view of Barrack's CEO and I can't imagine him having a bullish view. Epstein provided a more interesting missile in this Week's Barron's He interviewed Stephen Roach, Morgan Stanley's chief economist and a Wall Street Gloomer. The conclusion is that we are not going into a recession but we aren't going to experience strong growth (greater than 3 %) for several years. The GMI/POG ratio for this week:: On 5/24, the Barron's GMI was 338.96, down significantly from the previous week's value of 355.14. With the POG up to 276.25 (5/25), the ratio was down to 1.23. The ratio a year previously was 1.01. Cheers, Larry

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