Concerns over the global economy have added an extra shine to safe-haven assets such as gold, according to the chief executive of a top mining firm, who told CNBC that "solid" demand and future economic stress could lead to more price gains for the commodity.
"We're in a very confused state as far as understanding the global economy with very mixed messages coming from different sectors around the world," said RandGold Resources CEO Mark Bristow.
"It's an interesting time and that's always good for gold when people are unsure about the future."
RandGold's shares soared to the top of the FTSE 100 on Monday after beating market expectations in its full-year results. Investors cheered a rise in dividend payments and looked towards an increase in production for this year despite indications that profits had sunk in 2015.
Bristow noted that his company is well-positioned to deal with lower gold prices, even at a potential trough of $800 an ounce. He highlighted continued "tough times in the industry" but predicted a brighter patch with renewed strength in the gold price.
"The industry is under a lot of pressure because they set their business at prices much higher than the current spot price and so while, you know, the better gold prices of the last couple of weeks helps, it's still not going to help until the industry recuts its business," he said.