Gold and Silver Mutual Funds Look Bearish

Gold is off its all-time highs and precious metals mutual funds may have peaked, at least temporarily. A look at five representative precious metals funds shows them all down from recent double tops. Two funds made all-time highs in November 2007 and three made all-time highs in March of this year.

The Philadelphia Gold and Silver Index (^XAU), an index of 11 major precious metals stocks, made an all-time high at 205.16 on March 13, 2008.