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CPM Group Trade Signal - October 21 2020

Commentaries & Views

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Time Stamp
Prices as of 9:18 a.m. EDT (14h18 GMT) 21 October 2020 $1,927.10 (Basis the December 2020 Comex Contract).

Direction: Buy

Target Price / Range: $1,950

Timeframe: 20-10-2020 to 30-10-2020

Gold prices have been moving mostly between $1,880 and $1,940 since the beginning of the month. Volatility has actually declined compared to gold price activity in September. There continues to be strong interest in gold from investors, with many taking declines in prices as a buying opportunity. Recent U.S. dollar movements have been increasingly influential on gold prices, but a decoupling should be expected given the array of ongoing financial, economic, and political problems around the world. Unforeseen headlines will push and pull at gold prices in the short term, but the medium to longer term price direction remains to upside for now.

Note: Discretion should be allowed at +/- 0.20% of the price at the time each TR is issued from the target. Recommendations are valid until the target date or a new Trade Recommendation or message is issued by CPM. 

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.