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Strategies & Market Trends : Precious Metals mutual funds (gold, silver, PGMs)
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To: Richard Mazzarella who wrote (149)4/24/1998 11:42:00 AM
From: Dan P  Read Replies (1) of 972
 
Richard and others:

I noticed today that the gold funds are now the leading sector
in the year-to-date appreciation of sector funds (Investor's Business
Daily), and in today's paper, several gold funds are at the top of the
heap for their 4 and 8 week ranking, respectively. This includes
all other types funds. Also, many of the gold funds are near the top
for the 16 week rankings in performance. For example, 4 week perfor-
mance ranges from 15-20 %, 8 week from 26-31 % and 16 week from 23-29
%. Year to date, the average gold fund is up around 20 %, eclipsing
the technology sector for the first time this year.

In the past, meaningful rallies have featured such performance,
although by the time the gold funds let the parade for 39 weeks
or more, the rally was over. True it was possible in 1993 to
have major producers and gold stock funds double or more, but that was
about it, especially since gold didn't do much except mostly go
sideways. How significant the current rally is of course depends
on where bullion goes.

My expectation is that we will continue to see a rally in gold
into late 1998 and possibly into 1999, and the stocks and funds should
follow. I am hoping for 100 % + gains in the funds over that time
period.

Cheers

Dan
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