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Although the speed and extent of the global economic recovery remain uncertain, commodity prices are likely to put up strong performance in 2010. This will boost the worldwide mining industry, although challenges particular to South Africa may dampen local prospects.

A growing weight of investment money is poised to enter the gold market in the first half of 2010 and is likely to push gold prices to fresh records, according to the latest Gold Survey Update from leading international precious metals consultancy, GFMS.

Looking ahead to 2010, Jeffrey Nichols, Senior Economic Advisor to Rosland Capital, made the following comments on the outlook for the price of gold based on a series of key fundamentals trending into the New Year, including U.S. monetary policy, strong central bank and investment demand and declining mine production.