Gold’s $30 run-up over the last two sessions is the sharpest we’ve seen in a while. Was it just a knee-jerk reaction to continuing weakness in U.S. stocks? Probably. But we’ll keep a close eye on it nevertheless, since gold sentiment is so negative, sometimes verging on despair. Many investors who have followed bullion’s bear market closely since prices peaked eight years ago just above $1900 seem to get their hopes up every time gold rallies moderately. Disappointment has invariably followed, a
