Rising risk aversion in financial markets and mounting global growth worries have provided support to gold as of late. Our view on gold remains constructive and apart from potential short-term headwinds caused by the US dollar strength, we believe gold’s longer-term recovery is well on track. Gold mining companies generally benefit from increasing gold price as well. Thus, investors may generate yield on gold via a callable multi barrier reverse convertible on the following three gold miners with globally diversified operations:

• Newmont Mining - one the world’s largest gold producers with worldwide operations. It has recently re-affirmed its position by its friendly takeover of Goldcorp and a joint venture with Barrick Gold to manage their Nevada operations.

• Freeport-McMoRan - mainly focused on copper and gold mining. It’s anchor asset is the Indonesian Grasberg mining complex, the world's largest copper and gold mine in terms of recoverable reserves.

• Kinross Gold - one of its largest mines is in Russia. Besides Russia, the company focuses its greenfield and brownfield explorations in the Americas and West Africa.