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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 (208)	6/29/1998 3:51:00 PM
From: Ray Hughes	Read Replies (1) \| Respond to of 972

Larry, Interesting perspective on gold dishoarding in S. Korea and Indonesia carried on gold.org. World gold Council Gold Demand Trends notes 70% reduction in aggregate demand. North Asia demand down 16%. Japanese demand down 40%. Combined, these declines offset higher demand in Middle East, India, Brazil & Mexico. Does this not fly in the face of conventional wisdom that in times of stress gold is bought, not sold? Do not these actual statistics suggest that one reason gold can't get off the ground is that smart Asian investors tend to trade - selling into USD gold price strength, buying back on weakness? The whole world has gone short term. We need to see long term buy-hold behavior in order to get gold up. RH

To: Larry S. who wrote (208)	7/1/1998 7:41:00 AM
From: Richard Mazzarella	Read Replies (2) \| Respond to of 972

Larry, thanks for the Barron's index. I think that the tread is quiet because of the poor performance in POG. The forecaster suggests that we may have a bottom in, but none of the signals are currently a buy. We have been head faked a number of times and the fundamentals for POG are poor. Maybe this negativism also signals a buy? Your logic for a move in POG is excellent, but logic has been depreciating my metals portfolio recently. Unfortunately, I already blew my wad on precious metals and can only wait. It would have been nice to be with cash and come in at this level, but picking the absolute bottom is tough. Is this the bottom?