CPM Group Trade Signal - February 9, 2021
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Prices as of 10:20 a.m. EST (15h20 GMT) 9 February 2021 $1,843.30 (Basis the April 2021 Comex Contract).
Target Price / Range: $1,825
Timeframe: 10-02-2021 to 19-02-2021
CPM’s buy target of $1,845 was breached this morning, with April Comex gold touching $1,849.50. A weaker dollar and U.S. equity market appear the major factors behind the rise in prices, along with technical price chart patterns.
Gold is expected to drop back to around $1,825, remaining in its recent range.
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.