Back on March 20, in a PROFIT CONFIDENTIAL story titled "Another Golden Opportunity for Investors... Almost," I wrote about how I believed that investors in gold would have another chance soon to get into the yellow metal at attractive prices. On that day, gold bullion was selling at $920.00 U.S. per ounce.

I also wrote on March 20 how I felt that, from my readings of the charts, I wouldn't be surprised to see gold bullion fall to $800.00 per ounce. Today, gold trades at $866.00 an ounce and my opinion about a move closer to $800.00 remains unchanged.

For investors in gold stocks:

Patience is a virtue. If you follow my writings, you are familiar with my belief that gold is a seasonable commodity. From the spring of each year to the fall, gold bullion usually moves sideways in price. Over the past five years, any big upswings in the price of gold have occurred in the periods from October to March.

I'd personally take any price weakness in major gold producing stocks during the summer months as an opportunity to add to my positions... to dollar cost average down. The stock of Barrick Gold Corp., one of the world's largest gold producers, trades at under $40.00 today. Back in January, that stock traded for $54.00. Could Barrick go down to $35.00? Yes, say my price charts... and that's when dollar cost averaging down on your gold stocks becomes ever so prudent.

Talking about Barrick, the company reported net profit of five hundred and fourteen million dollars in the first quarter of this year on sales of almost $2.0 billion. (Barrick has 27 operating mines and produced gold at a cost of $393.00 per ounce in the first quarter of 2008.)

For speculators in gold stocks:

You are in trouble. Speculating in gold stocks is very difficult. Personally, I only see gold stocks as a long-term play. If like me you believe that the U.S. dollar will continue to fall against other world currencies... that the U.S. deficit will only continue to grow... then the long-term benefits of gold stocks in your investment portfolio are obvious. Make this summer your gold opportunity to cherry pick major gold producing stocks at great prices.