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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 (757)	9/4/2003 4:38:33 PM
From: Larry S.	Read Replies (1) \| Respond to of 972

Dan, et al, I'm a little late in posting the GMI data for last week. I didn't see anything of direct significance to PMs in Barron's this week. The movement of Lease rates this past week suggested again that the absence of leased gold being sold into the market to hold the price down allows the price to rise. The price of gold was up and the one-year lease rate fell from went 0.495 to 0.34 or so. It has been moving very little since and the POG, while having fallen a bit, isn't doing much. The GMI/POG ratio: On 08/28, the Barron's GMI was at 592.01, up big time from the previous week's 569.77. With the POG also up at 375.60(08/29) the ratio was essentially the same at 1.58. A year ago the ratio was 1.31. Cheers, Larry