Inter-Market Gold Analysis
Gold Charts
Any price is a ratio; we are just used to valuing things in terms of cash.
In the IMRA, however, we often look at markets in terms of each other.
In other words, is one market’s value rising versus another or is it ‘cheap’
or ‘expensive’ on an historical basis?
We are including three pages of gold-related charts. Gold compared to
wheat, copper, crude oil, commodity prices. Gold by itself. Gold in yen
terms. Gold versus the yen and Swiss franc. The ratio of the gold miners
to gold. Gold in terms of the S&P 500 Index and the Nikkei. The ratio of
Barrick to the XAU viewed in terms of the trend for gold...
When all is said and done... we find that we still like gold but are finding
reasons to REALLY like copper. Mind you, the mining stocks (gold
included) tend to move as a group so the next 6 to 9 months could be
especially exciting and potentially quite rewarding.
Inter-Market Relationships Analysis
Kevin Klombies Editor/Publisher
www.krk-imra.com
August 24, 2002
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