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Strategies & Market Trends : Precious Metals mutual funds (gold, silver, PGMs)
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To: Dan P who wrote (638)3/26/2002 12:28:11 PM
From: Larry S.  Read Replies (1) of 972
 
Dan, et al,

I didn't find any significant mention of gold or silver in this weeks Barron's but the Commodities Corner was devoted to a discussion of the future of Platinum. It is opined that the recent rise in price was due to short covering by Japanese investors and that the imbalance motivating the covering has run its course. More importantly, it is suggested that the demand by the auto industry will increase substantially over the next decade, driving the price significantly higher.

FWIW, Epstein, in his Economic Beat column, presents a strong case for not being concerned about consumer debt being excessive. He argues that the ratio of debt to income is about normal though his data shows that it is near a high.

I note from another source that Nick Goodwin, the So. African gold bull, has turned bearish on gold stocks, arguing that they have gotten ahead of themselves. He seems to be saying that they have priced in a rise in the POG to about $350 an oz but he doesn't see it moving above $300.

The GMI/POG ratio:

On 03/21, the Barron's GMI was 385.67 up from the previous week's 362.00. With the POG also up slightly to 294.25 (03/22), the ratio was up significantly to 1.31

The ratio a year previously was 1.07..

Cheers,
Larry
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