Gold and gold miners rallied the past three months from oversold levels. At the same time, the dollar, which tends to trade opposite gold, weakened perhaps on fading expectations for a Federal Reserve interest rate hike. Over the past three months, spot gold prices have popped 7%. But it remains down 5.4% for over the past 12 months as the U.S. dollar index surged 13% over the same period. Gold miners vaulted an eye-popping 17% the past three months. But they’re down 19% for the trailing year. It begs the question: How can you tell whether the recent uptrend is for real?
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