Gold bullion and gold shares are rising in price again. And this time the financial news reporters are telling us it's because of tension over North Korea's missile testing. Hogwash, I say.

In my opinion, the recent rise in the price of gold has nothing to do with the North Korea. It's just more of the same--reporters needing to put the "blame" on gold's price rise on someone or something.

The fact of the matter is that over the past 20 days, gold bullion has risen in price by $60 U.S. per ounce. I attribute the rise to a simple rebound from oversold price levels.

Starting from a low of $250 U.S. an ounce in 2001, gold bullion steadily rose in price into 2006. By May of this year, speculators had entered this bull market and gold reached a price high not seen in a quarter century--$720 U.S. per ounce. As I've often written, like all good bull markets, at some point price corrections happen.

Price corrections in any bull market work to build the technical strength of the item which is rising in price and to weed out speculators that have entered the market. And that's exactly what happened with gold. By mid-June of 2006, gold bullion prices had fallen to $560 U.S. per ounce. The gold bullion speculators got burned and went home.

Having formed a base, gold prices are now moving up from their oversold levels and are returning to their upward rising trend--a trend I believe could last for years to come. Why?

An America awash in debt. a currency that fails to rise despite 17 consecutive interest rate increases by its central bank. countries thinking about asking for something else other than U.S. dollars for oil. a Fed fixated on inflation. Are these not enough reasons for gold to be rising, and to continue rising, in price?

The great advantage for investors in gold today: Most reporters and analyst don't have a clue as to why gold prices are rising and very few investors have taken a position in gold. Both of these factors will eventually work wonders for today's prudent gold investor.