BlackRock, manager of the world's largest mining funds, is advising its clients to buy shares of gold companies and gold ETFs to protect themselves from a declining dollar.

"The strength of the dollar is overdone," said Evy Hambro, managing director of the $5.2 billion World Mining Fund. " The thing that encourages me is the fact gold has been as strong as it has been when the dollar has been strong. It tells you that when the dollar goes weak, and you see it from time to time, gold has an explosive move."

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