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

To: Larry S. who wrote (708)	1/21/2003 12:11:23 PM
From: Larry S.	Read Replies (1) \| Respond to of 972

Dan, et al, I've been rather busy the past couple of weeks and haven't gone through Barron's as carefully as in the past, but their first installment of their Round Table had some very interesting comments for those interested in PMs by Marc Faber and Felix Zulauf. Both are bullish on gold and bearish on the dollar and the US markets. No one was particularly bullish on the dollar, which may mean that is will not fall much further. Faber presents a solid case for continued weakness in the industrial sector and boom in the emerging markets. I haven't had time to go through this past week's edition. The latest update of lease rates is very interesting. Kitco updated their data today and the one-year rate is down to 0.55 percent. The lease rates for silver have similarly dropped. It appears that the CBs are giving it away but from the way the POG is acting, it would appear that the BBs have given up trying to hold the price down and aren't leasing. The GMI/POG ratio for the past two weeks: On 01/09, the Barron's GMI was at 489.43, down from the previous week's 491.17. With the POG up significantly at 353.00 (01/10), the ratio was down at 1.39. On 01/16, the Barron's GMI was at 494.11, up from the previous week's 489.43. With the POG up significantly at 357.00 (01/17), the ratio was down at 1.38. Note the GMI hasn't been rising with the POG and has a bit of catching up to do. The ratio a year previously was 1.22. Cheers, Larry