CPM Group Trade Signal - June 3 2020
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Featuring views and opinions written by market professionals, not staff journalists.
Prices as of 9:31am EDT (14h21 GMT) 3 June 2020 $1,711.20 (Basis the August 2020 Comex Contract).
Target Price / Range: $1,700
Timeframe: 03-06-2020 to 05-06-2020
Gold prices have retreated after reaching a high of $1,761 on Monday 1 June. The roll of the Comex June contract appears to have passed and eased support for gold prices. Equity markets meanwhile have been rising as countries around the world continue to reopen their economies, following quarantine measures put in place in March and April. If prices break below $1,700 there is potential for them to head toward $1,691.
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.