This just in: Gold had its biggest rally in nearly two years last week, gaining 5.4% to $1,278 per ounce. The move came as large speculators raised bullish bets 4.1%, according to CFTC data. Bernanke's dovish comments were a nice excuse to buy, but about a 30% decline in price this year may have been a better one. "Gold may have gotten oversold and was due for a bounce, but a bounce doesn't a bull market make." says equity trader John Goldsmith. GLD is flat, but the metal is up another 0.5% today to $1,284.