If our analysis is correct, the investment opportunities afforded by gold’s fourth quarter correction are compelling, and, in our view, likely to prove short-lived. We recognize that bullion’s inherent volatility makes an investment in gold notoriously difficult to “time.” When gold is appreciating rapidly, it is natural for investors to feel an entry point may have been missed. Conversely, because gold corrections can be sharp and swift, investors can find buying dips a bit daunting. Finally, during occasional instances when gold trades flat for an extended period, investment urgency can be lost. In our experience, the most logical juncture for a significant commitment to gold is immediately following a bull-market correction. As long as underlying fundamentals remain intact, such corrections can help harness gold’s volatility within favorable risk/reward parameters, especially over the short run.