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File photo of gold bars in the Austrian Mint.
File photo of gold bars in the Austrian Mint.
(Leonhard Foeger/Reuters)

Insiders still snapping up gold stocks despite recent rally

Corporate insiders tend to take contrarian positions, favouring stocks that have fallen out of favour in search for value in sectors they know well. They then sell when others are aggressively buying.

But, in what could be seen as a bullish signal, that’s not happening right now in the gold sector. As bullion prices have mounted an impressive rally to above $1,300 (U.S.) an ounce, insiders are buying more precious metals stocks, instead of taking profits.