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Strategies & Market Trends : Precious Metals mutual funds (gold, silver, PGMs)
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To: Larry S. who wrote (866)7/24/2004 9:46:16 PM
From: Larry S.  Read Replies (1) of 972
 
Dan, et al,

I let another week slip by without posting so I will post the data for the past two weeks below:

There weren't any articles in Barron's directed at PMs. Lease rates are essentially at their all-time lows. I haven't observed a correlation (inverse) of the daily movements with changes in the POG as they had for the past year but the very low rates make it clear the CBs are willing to essentially give it away and this can only be to keep the price down.

The GMI/POG ratio:

On 07/15, the Barron's GMI was 589.76, down slightly from the previous week's 595.29. With the POG essentially unchanged at 406.30(07/16), the ratio was essentially unchanged at 1.45.

On 07/22, the Barron's GMI was 563.59, down from the previous week's 589.76. With the POG down significantly at 391.50(07/23), the ratio was essentially unchanged at 1.44.

The ratio continues in the middle range where it doesn't suggest a rise or drop in the POG.

The ratio a year ago was 1.50.

Larry
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