Gold’s rally has nearly run its course

Contrarians were not surprised that gold surged to record highs last week.

Two months ago in this space, when gold was trading for less than $1,850 an ounce, I reported that, according to contrarian analysis, “gold and gold mining stocks are once again poised for a significant rally.” The yellow metal is trading at a record high, close to $2,100 an ounce and nearly $250 higher than where it stood in early October.

The…

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