"After reaching a 27-year high in March, gold corrected 17%; after a two-month base-building period, gold has broken out and resumed its uptrend," notes Nick Vardy.

In his Global Bull Market Alert, the international investing expert states, ""It's now a golden time to consider the SPDR Gold Shares ETF (NYSE: GLD) as a solid, short-term trade even while global stock markets struggle."

"Gold has historically performed strongest during times of global uncertainty and high-investor pessimism. As a rule of thumb, the worse the headlines, the higher the price of gold.

"In addition, inflation is back in the headlines. Six out of the world's top 10 economies now are suffering from inflation in the double-digit levels. As gold is investors' #1 hedge against inflation and store of value, rising inflation is always bullish for the yellow metal.

"The continued weakness of the U.S. dollar also supports the dollar denominated gold price. Throw in increased demand for gold from fast-growing economies like China and India, and the fundamental bullish case for gold could hardly be stronger.

"Technical analysts also have become excited about the short-term prospects for the price of gold. Unlike equity markets, gold found support at prices above its 200-day moving average in the past few months, and it now is trading sharply above its 50-day moving average.

"Gold's current chart formation also looks reminiscent of its price pattern in 2006, when gold surged to a then 28-year high before correcting. And gold's recent correction from its March record almost matched exactly gold's $195 decline from a top in May 2006 to a bottom in October 2006. This confirms that gold's recent correction was completely normal in the context of a long-term bullish trend.

"This all suggests that the technical buy signal for gold was triggered at the $915 mark, when gold surged on heavy volume on June 26. It might only take a few weeks for gold to test the $1,000 level once again.

"With gold's current level still trading at less than half its inflation-adjusted peak of more than $2,000 per ounce, many analysts believe gold could double from current levels -- though certainly not without its share of its 15-20% corrections along the way.

"So buy the SPDR Gold Shares at market, and set your stop at $81.50. For potentially even bigger profits, buy the December $90.00 calls."