My last report was titled "Gold - Bottoming Action Seen - Higher in September" - and that is exactly what I continue to believe. 

Gold and silver continue to trade along with my seasonal expectation of seeing a low made in late August and then seeing the precious metals trade higher into September.  I also stated in my last report from August 19th (two days after the low was made) - " The recent bounce from the $777.70 low looks like a potential bottoming formation and it certainly fits with the timing for our seasonal low."  I went on to continue - "The correction in this August timeframe ahead of what I believe will be a strong September and year end is opportunity.  I have done relatively well in staying away from most of the sharp correction and have recently begun to take advantage of the lower prices."

Everyone is well aware of my seasonal tendency towards the precious metals complex this time of year, and so far things are playing out quite well.  Both gold and silver have begun to build a base off the recent low, and I continue to expect that to lead to higher prices in the weeks to come. 

For more commentary - see the link below...

CLICK ON LINK BELOW TO SEE DAVE MEGER ON CNN MONEY - Clip will play after a short commercial

CNN Money Video - Dave Meger's Commentary on Metals