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Reuters
Gold's advance in 2010 has been helped by investors once again seeking refuge as worries over the fiscal health of Greece and other euro zone economies intensified. Demand has also been fuelled by anticipation of a pick-up in inflation following ultra loose monetary policy globally.
"We do think that gold equities will outperform gold itself," said Bradley George, head of commodities and resources at Investec Asset Management.
"We see a 10 to 15 percent upside in the gold price but we see more like 20 to 30 percent upside in the equity names because they're going to have an improving operating margin and we don't think the market has fully priced that in yet."
Gold prices could climb as high as $1,300 an ounce in 2010, driven by higher investment demand, according to metals consultancy GFMS Ltd.. The metal was trading at $1,138.55 on Friday.
Gold miners set to shine on gold price
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