Hedge funds’ bullish bets on gold jump to four-year high
Hedge funds and other large speculators boosted their net-long position in gold.
Robert Quartermain’s refrain in a Pretium Resources (TSX: PVG) presentation at the Hard Assets conference in New York, May 9-10, was: “This is why I came out of retirement.”
Quartermain, Pretium president and CEO, was referring to the high-grades of gold at the Brucejack project in BC, Canada, where drillholes have numerous times hit gold measured by kilograms per tonne, not by the usual grams or fractions of ounces per tonne.