Byron King finds himself inspired by a recent Patton-style ‘motivational’ speech for gold. This from Whiskey & Gunpowder:

Do you remember the 1970 Academy Award-winning movie Patton, starring George C. Scott? In the beginning of the movie, Scott — playing the iconic American Gen. George S. Patton — stands in full dress uniform, backed up by a gigantic American flag. Scott then rouses the troops (and the audience) with a stirring speech that follows the lines of the address the real Patton gave the Third Army on June 5, 1944, the eve of the invasion of France in World War II.

Patton’s original speech is considered by many to be one of the great motivational talks in all of military history. And actor Scott’s…

Crude oil has dropped form its July 11 record of $147 to just over $113 a barrel. Gold, meanwhile, has come off its March high of $1,030.80 to slip back below $800 an ounce.

Many in the mainstream press are calling an end to the “commodities bubble.” But oil and energy expert Byron King warns investors against betting against cheap oil and gold.

Byron says what we are seeing now is a short- to medium-term correction in the trends for energy and resources. Investors who buy beaten-up oil service stocks and gold miners now stand to make major profits…

The selling of commodity related stocks continued on the Canadian markets during Thursday trading.

U.S. Federal Reserve Chairman Ben S. Bernanke is caught between a rock and a hard place right now. Sure, he would prefer that you focus on “core inflation,” since it excludes sharply rising food and oil prices. But we all have to eat and we all consume energy.

Editor’s Note: The dollar’s weakness is gold’s strength, says Mike Caggeso. As inflation pushes the dollar downwards, it pushes gold in the opposite direction. You should invest in gold now before the Federal Reserve raises interest rates and spoils the party.

Gold jumped today in London over market fears of an Israeli attack on Iran. Bloomberg reports that gold for immediate delivery rose $5.06, or 0.6 percent, to $930.46 an ounce by 12:05 pm. Futures rose $3.50, or 0.4 percent, to $931.80 in after-hours electronic trading on the Comex division of the New York Mercantile Exchange.

Report: Toyota Plunking $1 Billion on Brazil Plant; India Housing Boom Ending; GDP Revised Up; Home Sales Rise, Values Fall; Anheuser Busch to Reject InBev Bid; Bank of America Sheds Jobs; Gold Shares Glow; Oshkosh Plunges on Lowered Outlook

Gold prices have skidded about 15% since the “yellow metal” hit an all-time record of $1,032 an ounce on St. Patrick’s Day.

The gold bugs must be scratching their heads. After all, it’s just not supposed to work this way.

Back in October - when gold was trading at only $770 an ounce - I told Money Morning readers that the “yellow metal” was looking like a very good bet