UPDATE 2-With gold on rise, experts point to several favorites.

(From CBS Marketwatch (Stories))

Byline: Bob Schwarz

SAN FRANCISCO (CBS.MW) -- Gold proponents, nervously awaiting further gains after a startling one-week rally, are pointing to several areas they say are poised for profits.

They include tiny exploration companies, several overlooked bullion producers and the actual metal itself.

The dollar-linked spot price of gold Monday was continuing to defy gravity, closing the day at $336.40, a 38-month high.

"From here on out, the gold price will be linked strongly with the dollar," says Frank Giustra, a Canadian merchant banker and director of Endeavour Mining Capital Corp. . Giustra, in an article published Monday, examines the dollar-gold relationship and concludes the metal will "a currency of last resort" for central bankers and investors. See the article in Brien Lundin's Gold Newsletter.

Gold analysts are biting their nails, looking for further gains after years of reversals for the precious metal.

"I think we saw some pretty important breakouts last week, but it's important that we get follow-through," said Ian McAvity, whose Toronto-based Deliberations on World Markets is in its fourth decade…