The uptrend for gold is still intact, said Dr. Nicole Adshead-Bell, director at Cupel Advisory Group.

Earlier this month Adshead-Bell spoke to Kitco at the Deutsche Goldmesse show in Frankfurt, Germany.

"We're no longer at the very beginnings of a bull market," said Adshead-Bell, adding that the easy money has already been made.

"Bull markets have varying degrees of gestation and some of them can be exceptionally long in duration," she said noting 2020 was a "euphoric" year.

"Whenever you have that kind of parabolic equity performance, there will always be a correction. That's a very natural thing, and that's a healthy thing."

Adshead-Bell said inflation and global uncertainty favors gold.

"All of these elements that are circling around the globe are very, very good for gold. I think we'll look back on this year and think that this was an opportune time to enter into the sector."