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In a week in which the gold price is trading in the $1,335-per-ounce range, all eyes in the gold industry are focused on Denver.
That is the site of the annual Denver Gold Forum, the most prestigious event centered around the world's largest gold mining companies. The event was held from Sept. 22-25 this year.
What sets this event apart from other events is the participation of nearly all the CEOs of the large gold mining firms along with major gold analysts and institutional investors.
Despite the drop in gold prices so far this year, attendance at the Forum usually falls when gold prices are down, but organizers expected the number of attendees to match or exceed last year's. This indicates that interest in the sector is still quite high.
In fact, many value-oriented institutional investors showed up at the Denver Gold Forum for the first time looking over companies that are trading at bargain prices.
Here's what investors need to know from the Forum about where gold prices are headed, and where the best places to invest are …
Denver Gold Forum Upbeat on Where Gold Prices Are Headed
What's great news for gold investors is that the tone at the Forum among most in attendance was positive.
Gold fund managers and mining analysts remained optimistic about where gold prices will be trading and the future performance of gold stocks and funds.
They remained focused on both the Federal Reserve's continuing easy monetary policies, as evidenced by no tapering at the last meeting and the deteriorating fiscal position of the United States.
"With the Fed delaying their tapering, it's a signal that it will be difficult to break away from the liquidity that the Fed is providing," Brian Hicks, co-manager of U.S. Global Investors Global Resources Fund, said to Kitco News. "It will be difficult for them to stop printing money."
Thomas Winmill, president of Midas Management, told Kitco, "This environment… is going to continue to foster a negative real interest rate environment, which is typically good for hard assets."
Many of those in attendance think that gold equities will even outperform gold if the precious metal resumes its upward path.
The reason behind this train of thought?
The efforts by nearly all of the large gold mining companies in recent months to restrain their overall spending in order to improve both cash flow and profitability.