We expect prices to recover from this trough as investors flock back into the dips although this might occur after another round of profit-taking.

If there is an economic meltdown, base metals will get hit first. Precious metals are a hedge bet.

It took its time in coming but (the bid) makes sense for the industry. The volatility we have seen goes down considerably. Depending on the macroeconomic scenario, prices might be higher or lower, I just think the amplitude of swings will be reduced.

If crude prices are near their trough, earnings should start to flatten out and move up.

We're seeing investors buy on the dips but, in the short term, we have to be cautious. There's no real good news and there's nothing really to send this market forward so we have to be cautious.

With what's going on with the aftermath of the hurricane, I would expect prices to go up rather than down in September.