Is Gold back in vogue?

Merrill Lynch Investment Managers (MLIM) highly rated MST World Gold and Mining Fund has seen a rise of 129% in US dollar terms over three years to the end of May 2002 - a return which compares very favorably to MSCI World Index which fell 19%. The price of gold hit US$327 at the end of May compared to a low of US$265 in July 2001, a rise that is expected to continue according to Evy Hambro, manager of the MST fund.