Gold’s 14 percent drop from its Feb. 28 high doesn’t signal an end to the precious metal’s impressive rally that began 2001, says Louis James, chief metals strategist at Casey Research.

"Absolutely, it's not over," he tells Yahoo. “Markets fluctuate, and when they fluctuate that’s a buying opportunity.”

So investors should take advantage of the pullback to purchase gold at reasonable prices, James says.

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Central bank easing across the globe will push gold back on an upward path, he says. "If gold isn't working right now, you have to look at that as a buying opportunity, unless you can somehow believe that governments can print trillions of new currency and it won’t matter."

Gold represents a storage of value, James says. “It’s conservation of wealth, the ultimate safe haven. That’s why you buy gold.”

It has been said through the years that an ounce of gold has always paid for a good suit, and that’s still the case, he says.

Given its constant value, investors should hold gold for the long term rather than trade in and out of the metal, James says. “To speculate, you invest in the gold [miner] stocks.”

Legendary investor Jim Rogers isn’t so sanguine about gold’s near-term direction. He is concerned about sagging demand for the metal in India.

If the country bans gold imports, “gold would certainly go down 40 to 50 percent from its top,” Rogers tells Business Insider.

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