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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 (857)	4/26/2004 12:13:10 AM
From: Wade	Read Replies (1) \| Respond to of 972

Thanks Larry. You made me feel a lot better already. LOL Invest in China has to be for the long term. I agree with the view that China is over heated and they will face some correction sooner or later. I made small profits from those Chinese ADR stocks, but I was scared away when I saw their crazy movements. These stocks need big corrections before we see value again. Regarding their internal inflation pressure I think it was mainly due to tight currency controls within China. It is known that it is very difficult to move money out of China once it got in. They need to open the door to let the excess private money to flow out freely. These money can re-invest in the rest of the world instead of cooking their internal inflation pressure. Freedom of money flow is the key for Chinese to achieve balanced growth at low inflation. I think this is what David Ranson was trying to say. The bottom line is that China still need to work hard to improve freedom of business and money flow, because their account surplus is the other's deficit. This is so called free trade, which applies to not only goods but also money flow...imho. Wade

To: Larry S. who wrote (857)	5/14/2004 11:03:18 PM
From: Larry S.	Read Replies (1) \| Respond to of 972

Dan, et al, I'm posting this to cover the past two week's Barron's GMI. I have been tied up and had neglected to post. I will try to post tomorrow's data promptly. I don't recall anything of particular significance to PMs in Barron's either of the past two weeks. But my memory is not very good. Epstein took time off from writing his book to write last week's Economic Beat column and argued that the economy is improving as he expected. Lease rates continue to be very low and Kitco hasn't been very reliable in posting them; so the data I have isn't telling us very much about the extent that leased gold is impacting the price. However, there were a few days during the past two weeks where they were significantly higher the morning after a significant drop the POG. Someone must be convinced the dollar will continue to rise and that interest rates will not rise - belief in the tooth fairy. The GMI/POG ratio: On 04/29, the Barron's GMI was 530.24, down significantly from the previous week's 579.81. With the POG also down significantly at 388.50(04/30), the ratio was down at 1.36. On 05/06, the Barron's GMI was 531.61, up slightly from the previous week's 530.24. With the POG also down significantly at 380.80(05/07), the ratio was up at 1.40. The ratio continues in the middle range where it doesn't suggest a rise of drop in the POG. The ratio a year ago was 1.33. Larry