I wrote not too long ago that pretty soon we would be probably experiencing a correction in gold, and of course it is now here. If it hadn't come I was going to start to be concerned a little over what may happen.

Still this is possibly, for the most part, the greatest short-term bull market for gold in the history of its trade. With the strong correction do we have anything to be concerned about?

I think for those of us invested in gold it would be good to take some time and let things settle. It is quite possible that it could drop another 50-75 points and still be considered in its general trend of being a long-term bull.

We have to remember that over the winter gold has made a huge move of over $100 an ounce. This is far above its long-term upward moving average.

Like I said, it is probably best to let is sit and see what happens, and then when things look pretty close to settling in, it would be a good time to buy.