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Strategies & Market Trends : Precious Metals mutual funds (gold, silver, PGMs)
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To: Wade who wrote (883)10/2/2004 9:53:26 PM
From: Larry S.  Read Replies (1) of 972
 
Wade, et al,

Thank you for the info on Funds and congratulations on the gain in the value of your coins. There are a lot of reasons to be optomistic about the price of PMs. Barron's had an interview of Jim Turk this week and he layed out a strong bullish case. Our deficits, debt and the value of Tresuries held by China and Japan, which a bearish for the dollar are bullish for PMs. And I don't think it makes a difference who wins the election. I suspect we are beyond to point where the situation can be corrected without serious problems and a major drop in the value of the dollar.

Lease rates continue to suggest that leased gold is being used in an attempt to cap the POG but not a clear as in the past. Rates were at an all time low a couple of weeks ago.

I missed three weeks of data and can't find the data for the first of these but the following is for this and last week.

The GMI/POG ratio:

On 09/23, the Barron's GMI was 636.85, up from the week's before last 608.46. With the POG also up at 407.85 (09/24), the ratio was up to 1.62.

On 09/303, the Barron's GMI was 671.55, up significantly from the week's before last 636.85. With the POG also up significantly at 418.18 (10/01), the ratio was almost unchanged at to 1.61.

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 1.59.

Larry
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