Denver Gold Forum Attendees Share Bullish Buzz
The buzz at the Denver Gold Forum is decidedly bullish. The invitation only conference in the mile-high city brings together miners, investors and hedge fund managers including Victor Flores, Vice President at Paulson & Co.
Adrian Day, Chairman & CEO of Adrian Day Asset Management described the event as more crowded than usual, but not manic.
“What’s different this year is that there are a lot of generalist funds — not just the specialty gold funds,” says Day.
And those investors are most interested in one big question: will we get a major correction in the price of gold?
“Nobody is thinking that gold is in a bubble,” says Day.
But, if there is a correction, he says these investors expect to hold on and perhaps add to long positions.
With dozens of minor and mid-tier miners present, consolidation is another big question. John Doody, author of the newsletter “The Gold Stock Analyst” is focused on which companies could be acquisition targets.
What’s not on the agenda he says is hedging.
“Hedging is a dead issue that only media talks about. Not a topic here.”
Today, the majors are on the docket including Newmont, AngloGoldAshanti and Barrick.