For those of you who've missed buying into Gold before it began its recent rally, a widely anticipated upcoming correction could present a very good opportunity. Yes, that's right. Gold prices are expected to take a breather for some time as one of the major supporters of its surge from US$ 900 per ounce to US$ 1,000 shows signs of weakening. As per the Wall Street Journal, firms like Barrick and AngloGold Ashanti, which are amongst the largest producers of the yellow metal have decided to go slow on their plans of gold hedging elimination.

Gold hedging is a process whereby producers sell their future production in advance because of the belief that gold prices may decline in the future. However, currently the dynamics are such that gold prices are expected to witness a sustained long term rally. Hence, these companies have decided to eliminate their hedges and profit from the price rise. Hedging elimination on the other hand, required these companies to purchase gold from the market and this along with a move away from the dollar was causing the gold price rise in recent months. But with these companies now going slow on eliminating their hedging, the gold rally is expected to slow down for a while, presenting long term investors with a good opportunity to buy into the metal.