Toronto, Ontario--(Newsfile Corp. - January 29, 2014) - Spot gold prices rebounded during January 2014 with a rise of 4.5% to date after a steep decline of 28.2% during 2013. The yellow metal touched its 10-week high of 1,270.06 an ounce on Jan 24 following weak global equities on concerns about China's economic slowdown coupled with expectations the Fed would scale back its bond buying further. According to a report compiled by London Bullion Market Association (LBMA), the gold price is expected to range between $1,067 and $1,379 in 2014. The analysts expect possible strengthening of US dollar, the reining in of QE, weak global inflationary pressures, oversupply of gold and further sales by investors who hold gold in exchange-traded funds or ETFs could restrain gold prices.

Ubika Research has shortlisted the following Canadian gold producers, which have registered significant growth in production during the trailing 12 months. Also, these stocks have registered strong growth in sales during the same period and are currently trading at low EV to EBITDA multiple. Moreover, we note that majority of these stocks have outperformed the gold prices during the past one month with average traded volume in excess of 100,000.

For investors looking to see our analyst's shortlisted Canadian gold stocks with strong production growth please visit the Smallcappower.com Daily Investment Idea: http://www.smallcappower.com/posts/article-investment-idea-of-the-day-29-1-2014.

Included in the list of nine smallcap stocks are: Lake Shore Gold Corp. (TSX: LSG), Timmins Gold Corp. (TSX: TMM), and Kirkland Lake Gold Inc. (TSX: KGI).

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