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Strategies & Market Trends : Precious Metals mutual funds (gold, silver, PGMs) -- Ignore unavailable to you. Want to Upgrade?

To: Dan P who wrote (667)	6/10/2002 11:17:21 PM
From: Larry S.	Read Replies (1) \| Respond to of 972

Dan, It appears that you are right about a correction. Gold took a further tumble today and the dollar rallied a bit. Lease rates also dropped a little - the one-year rate is now 0.94%, indicating an amount of gold available for leasing that exceeds demand. I see as bullish for gold. The dollar's fundamentals haven't changed and so the move today is probably temporary. Therefore, I will be surprised if the POG falls much further. The GMI/POG ratio: On 06/06, the Barron's GMI was 509.27 up from the previous week's high of 487.70. With the POG almost unchanged at 326.40 (06/07), the ratio was up at 1.56. The GMI and the ratio would have been down if the GMI were based on Friday's data. A year ago the ratio was 1.21 Cheers, Larry