Five of the Best: Gold miners set to surprise in 2012

Angelos Damaskos, manager of the £40m Junior Gold fund and CEO of Sector Investment Managers, picks five gold miners best placed to benefit from the upswing in commodity prices.

Damaskos said the upward trend in the gold price is set to continue as the complex crisis facing developed economies persists. "Very difficult market conditions and further cuts in government spending will have a dramatic devalue effect on the strongest Western currencies, causing investors to seek another source of value." "This has an exaggerated effect on the gold price, and we expect, on an inflation adjusted basis, $2,500 per ounce is the right price to look for in 2012." He conceded gold mining shares are back to August lows after a brief rebound, despite their advantages suc...