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Pro: Why Gold Is Rising

Gold has bounced $160 higher since everyone and their mother sold out of their gold position. Now undergoing what's described as a "back-and-fill" movement.

So what's "back-'n-fill"? It's a technical term describing the price retracement from a dramatic move—such as the one we are seeing since gold fell from $1,523.

Typically, in fierce swings like that, some prices never get traded, as the huge move easily skipped them over. A "back-'n-fill" price movement then goes back to those skipped prices and fills in the chart.

(Read More: True Floor for Gold? How About $1,200?)

gold bars.jpg
AP

So, are we going to see this "back-'n-fill" complete its course all the way back up to $1,523? I think so. When that happens, the bulls and bears can face off again to decide who's in charge of gold.

But until then, you might as well buy!

—By Jeff Kilburg, founder & CEO of KKM Financial, and a CNBC contributor

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