Money: Panning For A Golden Hedge

Gold enthusiasts haven't had a bull market to crow about in more than two decades, but we're in one now. The price of an ounce has zipped past $600 for the first time in 25 years. Gold-mining stocks have doubled since early 2003, and most pros expect more gains--for mining stocks and the metal itself.

Conditions certainly are right. Booming economies globally and an emerging middle class in Asia, where gold jewelry is especially popular, will triple demand over the next few years, predicts the World Gold Council. Mining companies won't be able to keep pace because they failed to invest sufficiently...

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