CPM Group Trade Signal - November 15th 2019
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
Prices as of 9:43 a.m. EST (14h43m GMT) 15 November 2019 $1,466 (Basis the December 2019 Comex Contract).
Direction: Stand Aside
Target Price / Range: $1,440 -$1,485
Timeframe: 18-11-2019 to 22-11-2019
Gold prices have been moving sideways over the past week and may continue to do so. Technical chart indicators are mixed. Economic indicators have been mixed to lower. Meanwhile, stock markets continue to break record highs every other day. The gold market may be waiting for a clearer outcome regarding ongoing trade negotiations between the U.S. and China. In the meantime gold prices should be expected to remain range bound, driven by more by technical factors than fundamental factors.
Note: Discretion should be allowed at +/- $0.50 from the target.
Disclaimer – Past performance is no indication or guarantee of anticipated future profits, and neither Kitco Metals Inc. nor CPM Group can accept any liability or responsibility for any loss suffered as a result of gold price fluctuations. Gold as a commodity is not a specified investment for the purpose of giving advice under the Financial Services and Markets Act 2000. Therefore this trade recommendation does not give rise to rights to claim compensation under the Financial Services Compensation Scheme. CPM Group is a registered CTA with the U.S. NFA and CFTC. At times the principals and associates of CPM Group may have positions in the precious metals, commodity, and equities markets. CPM Group also manages investment and industrial positions in markets for its clients.