CPM Group Trade Signal - January 17 2020
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
Prices as of 10:15 a.m. EST (15:15 p.m. GMT) 16 January 2020 $1,554.40 (Basis the February 2020 Comex Contract).
Target Price / Range: $1,540
Timeframe: 16-01-2020 to 24-01-2020
Risk is now tilted to the downside. Gold has been holding up well and could hold above $1,540.
Economic data appear to be healthy recently. There were no surprises in U.S. – China trade deal announced yesterday. Stocks continue to holding up well and are likely to rise. Gold is holding up well too, but has been capped at $1,555. If stocks continue to rise short term a pull back in gold possible.
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.