Contrarians take note: the U.S. mint sold 92,000 ounces worth of American Eagle gold coins in January... nearly four times as much as it sold during the same period in 2008. Cash flowing into gold exchange traded funds hit record levels in January 2009.

The January rush to gold means two things: 1) Gold is overbought in the short-term and due for a correction. And, 2) A possible gold mania is developing.

Read on...