Gold futures rebounded Monday after suffering their longest losing streak since August. June futures were climbing $14.30 to $882.20 an ounce at the Comex division of the New York Mercantile Exchange. The contract has traded as low as $865.60 and as high as $884.70 so far during the session. Silver was adding 31 cents to $12.10 an ounce, and copper prices were slipping slightly to $2.12 a pound. Gold bugs didn't celebrate the rally. Kitco.com senior analyst Jon Nadler says the 1% advance is "overdue ... traders and analyst were looking for a correction upwards." The gold market is in "disarray, acting schizophrenic," he says. If gold is in the $880 to $890 area, investors should consider taking profits, he adds. In the short term, Nadler is watching India's gold buying festival as a potential catalyst if prices remain low enough. There are "some cautious but savvy conscious buyers in India. In part, their desire for lower prices have been answered, but is the dip enough for them to buy?" For the long term, he's looking at an underlying trend that developed in the first quarter. Scrap sales surged to 500 tons, which "is as much as we would see in a single year. This means that investors are needing to raise cash with quick gold sales and value conscious holders are selling not thinking gold is sustainable." This trend could continue to put pressure on investor demand even as physical demand for the precious metal rebounds.