The Scorecard: Metals V. Paper, Q1, 2007

Ending Q1, 2007 (As of March 29, 2007)

Performance from Secular Bull Peak, March 24, 2000 (SPX ~1527.5):

SPX * - 6.98% (03-24-00: 1527.50 --> 03-29-07: 1420.86)
Gold ** +130.83% (03-24-00: $ 284.80 --> 03-29-07: $ 657.40)
Silver ** +160.23% (03-24-00: $ 5.13 --> 03-29-07: $ 13.35)


Performance from Cyclical Bear Low, October 07, 2002 (SPX ~ 785.3) :

SPX * + 80.93% (10-07-02: 785.50 --> 03-29-07: 1420.86)
Gold ** +104.35% (10-07-02: $321.70 --> 03-29-07: $ 657.40)
Silver ** +197.33% (10-07-02: $ 4.49 --> 03-29-07: $ 13.35)


DJIA/Gold Ratio as of Q1: 18.79 (DJIA: 12,354.35 / GLD: $657.40)

Au/Ag Ratio as of Q1: 49.24 (GLD: $657.40 / SLV: $13.35)


* S&P500 (SPX) returns do not include dividends

** Au & Ag (Gold & Silver) present-day closing prices from ETF's (GLD, SLV); Historical closing prices from COMEX "Cash" data (~"spot" prices)