Historically, gold bull markets last years and as you can see in the following chart from Casey Research we are still in the very early innings of this one.
As OtterWood Capital notes, Gold has been correcting recently and the question is how much further can it go?
During any bull market the long term moving averages act like support (I look at the 50 day and 200 day moving averages).
Gold has broken through the 50 day and could fall as far as the 200 day and still be in a perfectly normal bull market.
Corrections in long term bull markets happen repeatedly and should be bought.