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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 (885)	10/30/2004 10:00:51 PM
From: Larry S.	Read Replies (1) \| Respond to of 972

Wade, et al, There have been a couple of articles in Barron's the past few weeks that could be of interest. Copper was the subject of the Commodities Corner a couple of weeks ago and the projections were quite bullish - not surprising. There is an article in today's issue concerning the dollar and the down trend. Several gurus are quoted as suggesting the dollar will have to fall another 30 percent to help the trade deficit but it is not clear that even that will be adequate. In any event, PMs will rise with any fall in the dollar and lease rates suggest to me the CBs are no longer doing all the can to hold the dollar up. Russia is backing away from dollar reserves and other are talking about it. Lease rates haven't been following the pattern that strongly suggested the sale of leased gold to hold the price down. It appears to me that CBs just aren't flooding the markets with gold to lease as they have for the past couple of years. I missed posting three weeks prior to today but I have the data and the GMI/POG ratio for the past three weeks follows: On 10/14, the Barron's GMI was 635.36, down significantly from the week's before last 674.45. With the POG also down significantly at 420.40(10/15), the ratio backed off to 1.51. On 10/21, the Barron's GMI was 660.73, up significantly from the week's before last 635.45. With the POG also up at 422.80(10/22), the ratio up to 1.56. On 10/28, the Barron's GMI was 647.92, down from the week's before last 660.73. With the POG up at 425.55(10/22), the ratio up down to 1.52. The ratio continues in the middle range where it doesn't suggest a rise or drop in the POG. The ratio a year ago was 1.67. Larry