Financial Times FT.com

Good time to add a little glitter to your portfolio

By Stephen Schurr

Published: November 23 2004 02:00 | Last updated: November 23 2004 02:00

"We are now in the second phase of the gold bull market - the phase when the public gradually becomes interested. I think gold will hit $1,000 before this bull market is over," says Richard Russell, editor of Dow Theory Letters.

Mr Russell has been making bold calls since 1958 and as he says this to me, the price of gold hovers at about $440. The metal is already up about 75 per cent from its dog days of 1999 but is a far cry for the $850 gold fetched back in 1981.

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