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As long as the uncertainty remains, the gold selloffs will be short and more buying opportunities.
FORBES: Gold Decline Prompted By Selling To Meet Margin Calls Elsewhere; Uptrend Still Seen As Intact
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Yesterday's sharp drop in the Dow Industrials and other U.S. market indexes triggered selloffs in Asia.
NPR: British Bank Buys Rival To Help Calm Jitters
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The selloffs followed strong gains in recent months for many Asian markets, especially in Tokyo, and some analysts said a pullback was due.
WSJ: Nikkei Drops 7.3%
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Down the current road lies more uncertainty, and more market selloffs.
WSJ: Leadership and Panics
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Frank Lesh, futures analyst and broker at FuturePath Trading said after selloffs or moves of this magnitude, he looks for most commodities, including gold, to develop a trading range.
FORBES: METALS OUTLOOK: Gold Could Stabilize Next Week, But Analysts Cautious
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Guidance is another major variable for investors to watch during earnings season, with companies such as Cisco and Research in Motion facing substantial selloffs recently after disappointing guidance numbers.
FORBES: Earnings Preview: Dow's 'Rock Stars Of Revenue Growth'
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Market selloffs are actually common this time of year.
FORBES: Gold Stocks Look Like Diamonds In The Rough With Metal Making New Highs, Stocks Slumping
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The correction has started recently and the performance by country year to date has been mixed, but the most pronounced selloffs have been associated with the largest revisions to GDP growth forecasts.
FORBES: Emerging Markets GettingTired; U.S. Better...For Now
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However, these selloffs have historically resulted in strong rebounds, thus providing an opportunity for clever investors who like to buy their summer clothes during a winter sale and their winter clothes during the summer.
FORBES: Gold Stocks Look Like Diamonds In The Rough With Metal Making New Highs, Stocks Slumping