Add Gold (Just a Pinch)
The Wall Street Journal Online (Subscription required)
By Sandra Ward
19 October 2003

"Emerging from a 20-year slump last year, the price of the yellow metal has continued to move higher, lately hovering at around $370 an ounce, up 14% from the $325 level at which it ended 2002."

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"In addition, Mr. Turk contends that gold is cheap, based on its purchasing power. At the stock market's peak in 2000, it would have taken 1,360 grams of gold to purchase a share of each of the 30 stocks in the Dow Jones Industrial Average. In comparison, it would take 820 today. Historically, gold's purchasing power is at a high point when it takes fewer than 100 grams of gold to buy the Dow, according to Mr. Turk. And we're a long way from that right now."

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