GOLD'S BIGGER PICTURE
The Wisdom of Buying on Price Dips
Feb. 9, 2010

Precious metals prices have fallen back over the last 60 days as both stocks and commodities retreated on downbeat jobs data and global debt worries. Recently gold prices steadied above $1,060/oz. as bargain-hunting buyers matched short-term speculative sellers. Price corrections offer long-term investors a golden buying opportunity.

Do not be distracted by media hype over gold's recent price correction and/or talk about an emerging gold "bubble". Instead keep your eyes on the facts and your focus on the fundamentals. A 10-year gold chart illustrates the seven major price corrections of the gold bull market since 2003:

1. 2003 - Gold at $382 dropped to $319 (-16%)
2. 2004 - Gold at $425 dropped to $375 (-13%)
3. 2005 - Gold at $536 dropped to $489 (-9%)
4. 2006 - Gold at $725 dropped to $560 (-22%)
5. 2007 - Gold at $841 dropped to $778 (-8%)
6. 2008 – Gold hit $1002 on Mar 17 then dropped to $746 on 9-11-08 15 (-25%)
7. 2009-10 --Gold hit $1215 on Dec 7th then dropped to $1,060 on 2-4-10 (-14.6%)

Following each of the last six major corrections, gold prices have risen an average of 36%. Measured from the bottom of each price correction to the top of the next peak, gold prices rose; 54% in 2009, 28% in 2008, 50% in 2007, 48% in 2006, 43% in 2005 and 33% in 2004. "While past price movements do not always foretell future movements, we could see prices above $1,400/oz. soon. Buying near market lows helps investors maximize long-term growth," said Swiss America Chairman Craig R. Smith.

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