Ahead of the Bell: Gold Miners

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Gold stocks benefited from the rise in prices, some taking nearly double-digit stock gains in just one day.

The new year should be a strong one for gold, an analyst said Thursday after the precious metal rose 2.9 percent to hit a high of $860 an ounce.

"While some may be surprised at gold's leap out of the box yesterday, when base metals have been pulling back, it must be remembered that gold is typically a late-stage performer," JPMorgan analyst Josh Bridges said in a client note.

The rising prices, Bridges said, fit into a theory of falling supply and rising demand.

"We feel that we could be beginning to see another period of gold prices outperforming their dollar relationship," Bridges said.

Gold stocks benefited from the rise in prices, some taking nearly double-digit stock gains in just one day.

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