It was two weeks ago when I reported that sentiment analysis, at long last, was on the side of the bulls — at least for a tradeable rally. Yet, far from rallying, bullion today is $18 per ounce lower — a nine-month low — than it was then. Does this mean contrarian analysis was wrong? Have contrarians reconsidered their bullish turn? No is the answer, on both counts. Consider the average recommended gold market exposure level among a subset of short-term gold market timers tracked by the Hulbert Financial Digest (as measured by the Hulbert Gold Newsletter Sentiment Index, or...