Video presentation does note weakness on a short-term basis

"The major trend in gold remains positive," says Adam Hewison, president of INO.com and co-founder of MarketClub, in a video analysis of gold's chart performance.

"The shorter-term trend in the weekly and the daily is negative," he notes. "So we're going to see some more negative action, and then we'll see a consolidation, and we expect to see gold go back up. I would say somewhere between the $1,157 and the $1,132 level, this is an area to consider buying gold, providing that we get the correct signals."

Hewison's analysis supports the notion that gold's recent slowdown is merely a symptom of the annual summer doldrums, and that now is the time to buy bullion at bargain prices in anticipation of a bigger upswing in the fall.

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