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Strategies & Market Trends : Precious Metals mutual funds (gold, silver, PGMs)
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To: Larry S. who wrote (739)7/27/2003 10:24:40 PM
From: Larry S.  Read Replies (1) of 972
 
Dan, et al,

I didn't see anything of direct significance to PMs in Barron's this week. But there was a lot about the broad market and how it is due for a correction. However, my favorite economist argues in his Economic Beat column that manufacturing jobs are not moving overseas as rapidly as most claim. He is still relatively bullish on the economy.

For the second week, the movement of lease rates for gold didn't give a clear signal. However, it is clear that CBs are almost giving it away as the one-year rate is only 0.31%. This could mean that those that have been trying to hold the price down by selling leased gold into the market have given up.

The GMI/POG ratio:

On 07/24, the Barron's GMI was at 542.90, up very significantly from the previous week's 489.81. With the POG also up significantly at 363.00 (07/25), the ratio was up a little at 1.50.

A year ago the ratio was 1.19.

Cheers,
Larry
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