Contrarian: Strange days in the gold markets

CONTRARIAN

At long last, some good news for fans of gold. In recent days, gold futures have bounced back strongly in price with big daily rises.

Apparently traders are now more bullish than they have been over the past five weeks, with 19 analysts surveyed by Bloomberg expecting prices to rise - nine were bearish and three neutral. This rare bit of good news will come as a great relief to fans of the shiny stuff. Back in the middle of July, for instance, there seemed to be a very big and ominous cloud hanging over the precious metals space. More sensible investors might have paid closer attention to gold analysts such as Ned Naylor-Leyland over at Cheviot. A few weeks ago, he argued there seems to be a disconnect between physi...