From Brian Weepie, Analyst, Stansberry Resource Report:

“The gold price has bottomed.”

That’s what legendary resource-newsletter writer Bob Bishop told me during a recent reception last month in Toronto that included 20 mining-industry legends.

I was there for the week-long Prospectors and Developers Association of Canada (“PDAC”) conference. PDAC is the largest mining conference in the world. More than 20,000 attendees traipse the halls and attend presentations and receptions each day.

The intimate nature of the event – hosted by Sprott U.S. Holdings CEO Rick Rule – allowed me to speak one-on-one with Bob. And in the days that followed, I’ve come to believe that his comments about gold were right…

Gold prices have been on a tear since December, up almost $200 an ounce, about 17%. You can see that incredible move in the following chart…

Of course, like any commodity, trying to forecast the price of gold…