Business Notes INVESTING

Looking for an investment that outshines the rest? The best choices seem to be as old as them thar hills: gold and silver. A study by Lipper Analytical Securities shows that mutual funds specializing in gold stocks accounted for 16 of the top 20 fund performers in the first quarter. At the same time, a group of 14 silver-mining stocks enjoyed a 78.6% rise in value.

Why? For the first time this decade, U.S. consumption of silver has outstripped production, pushing prices from a $5-to-$6 range past $7 an oz. Meanwhile, mutual funds specializing in North American gold, such as Van Eck Gold/Resources and U.S. New Prospector, benefited from money fleeing South African investments. The extended bull market in stocks has also played a role, as investors have taken profits and sought safe alternatives.