Last good buying opportunity for gold?

Gold got quite a hit lately and it is trading around $1600. I started to get the feeling of nervousness among people who had bought gold. When you turned on the TV, you saw the talking heads having quite depressed mood when talking about gold. The general consensus for them was that the good day for gold had gone and it was the time to say bye bye to gold (and of course silver).  The charting "expert' on the Friday show of Currency Trading on CNBC announced that he had sold all his position of gold since he could not take it anymore. I'm happy to see this kind of poor sentiment spreading out for gold and silver. Unfortunately you just cannot expect precious metals to really continue their bull run when there is euphoria about them. The weak hands must first be shaken out before any bull can resume its run. Fundamentally I just cannot see where is the end for gold/silver's bull run when all the world is printing money to deal with the huge debt crisis and everyone is devaluing their own currency. Technically one can argue that gold may decline to as low as $1500 to meet its next strong support line. But it is equally possible that countries like China and Russia may take the good opportunity to buy gold in huge amounts as its price comes down. This will put a floor for gold and prevent it from further plunging.

I have a strong hunch that this is the last time that gold is going through the correction mood before starting to break out its long-term resistance line at around $1790. I don't want to miss the good opportunity to buy gold at this depressed level although I'm fully aware it may continue to slide down a bit. So I'm starting to buy gold now and will buy more if it drops further. This is the only sure way to not to miss the buying opportunity while being able to reduce my average cost as well during this process. I don't know what will be the gold price in the next few weeks or months but I'm very sure that 5 years from now, I will be extremely happy for my today's action to buy gold at this price! Actually I'm also accumulating silver and platinum along the way.