CPM Group Trade Signal - October 21 2020
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
Prices as of 9:18 a.m. EDT (14h18 GMT) 21 October 2020 $1,927.10 (Basis the December 2020 Comex Contract).
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.