SYDNEY, Australia - December 20, 2010 - Gold mining companies expect the current gold rush to continue as gold prices are forecast to continue rising in 2011.

The positive run on gold is expected to continue because of the financial concerns about the state of the global economy, PriceWaterhouseCoopers said in a survey published today.

PWC interviewed executives at 44 companies and found that nearly 75% of all the gold mining companies expect gold prices to continue rising until the fourth quarter of 2011 and about 82% of those surveyed expect their forecasted gold production to increase.

Gold companies predict gold will peak between $1400 USD an ounce and $3000 USD/oz with 40% believing the price will peak around $US1500 when the survey was conducted in November 2010, PWC said.

“Given the high demand for gold, it will be interesting to see if companies that have located marginal deposits of gold will kick-start their production and move faster than they would under normal circumstances,” said Jason Burkitt, PWC's UK mining leader.