I put it to you that the so called experts who are saying that gold is over bought now are not looking at the situation proberly.
Many are probably basing their decision from charting or contrarian thinking. Well sure the up trend has been there for quite a long while and if you just go by that then obviously it is well over due for a turn around.
But that is ignoring some of the most basic of fundamentals.
1. Gold is undervalued historically compared to just about all the commodities.
2. The world currency which is the dollar is in precarious trouble and the world is looking for alternatives.
3. Alternatives such as the Euro are also in trouble. Euro's salvation is that it is no where near dollar's troubles. Hence drifting towards it.

There are many more points to consider but the above should be sufficient to convince that any one of these alone is more indicative as to where gold should be going than what charts or over due "corrections" may say. Actually what is happening to gold right now IS a correction.