By Daily Crux Editor Justin Brill:

Contrarians take note.

The average recommended gold exposure among all the gold timing newsletters tracked by Hulbert Financial Digest is a paltry 3.8%. In other words, the overwhelming majority of gold timing newsletters have next to no positions in the gold market right now.

Just three months ago in late May, the average recommended gold exposure by these same newsletters was over 50%, despite the fact that gold was trading roughly where it is now. Gold then proceeded to drop nearly 10% over next two months.

With sentiment now stretched to the opposite extreme, gold may be worth a second look here.

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