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CPM Group Trade Signal - November 15th 2019

Commentaries & Views

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Time Stamp
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.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.