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Strategies & Market Trends : Precious Metals mutual funds (gold, silver, PGMs)
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To: Dan P who wrote (622)2/11/2002 9:58:37 AM
From: Larry S.  Read Replies (1) of 972
 
Dan, et al,

Yes, I agree that the change in the insurance of the postal saving accounts on April 1 is a major event but I'm not sure that I understand why it might signal a peak the rise in the POG. I assume that the recent increased buying of gold in Japan is related to this change but I would expect its impact to continue for a months, if not years. What don't I understand?

I didn't find any significant mentions of PMs in this weeks Barron's. I think Rukeyser (Wall Street Week) actually acknowledged gold's rise this week. I missed part of his comment but the part that I heard didn't have the normal negative tone. I t will be interesting to see if Barron's can ignore it if the POG closes for a second week above $300. The most interesting piece, to me, in Barron's this week was Epstein's Economic Beat column in which summarizes his arguments for stronger recovery than forecast by most on Wall Street. If he is right, base metals should do well.

The GMI/POG ratio:

On 02/07, the Barron's GMI was 394.43 up from the previous week's value of 356.46. Even with the POG up to 303.30 (02/08), the ratio was still up to 1.30.

The ratio a year previously was 1.05.

Cheers,
Larry
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