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Strategies & Market Trends : Precious Metals mutual funds (gold, silver, PGMs)
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To: Dan P who wrote (619)2/6/2002 1:42:21 PM
From: Larry S.  Read Replies (2) of 972
 
Dan, et al,

The only mention of gold, beyond the quotes of its price, that I found in Barron's this week was in an interview of WARREN ISABELLE ~ Ironwood Capital's chief ~ which suggest in the introduction that he is going to tell us what the gold market is telling us. However, in the body of he interview, he states that the jury is still out. A more interesting comment in the interview is his view that we are in a deflation. This is consistent with Wanniski's latest comments. Wanniski, who has the ear of the President and every prominent Republican in WDC, says that to stop the deflation we must get the price of gold up to $325. As I've watch the POG move up the past week, I was reminded of his comments and how he told all the right people in WDC and began to wonder if they had listened. It also occurred to me that they may find it easy to allow it to reach $325 but not very easy to prevent it from rising further unless the carry trade was all an illusion.

Barron's didn't even mention gold funds in its review of last year's Fund-Family performance. It occurs to me that this is another contrary indicator for Eric Frey's list.

The GMI/POG ratio:

On 01/31, the Barron's GMI was 356.46 up from the previous week's value of 335.53. Even with the POG up to 283.90 (02/2\01), the ratio was still up to 1.26.

The ratio a year previously was 1.05.

Cheers,
Larry
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