CPM Group Trade Signal - February 18, 2021
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Featuring views and opinions written by market professionals, not staff journalists.
Prices as of 11:45 a.m. EST (16h45 GMT) 18 February 2021 $1,773.70 (Basis the April 2021 Comex Contract).
Target Price / Range: $1,750
Timeframe: 18-02-2021 to 26-02-2021
Gold prices have come off sharply this week, continuing to break support levels. After four down days prices could recover some, but probably would be limited to $1,795 and stay below $1,800. Given the overwhelming short-term negative sentiment toward gold prices in the market recently it is expected that prices could test $1,750. A break below this level could push prices toward $1,720 and even $1,700. The lack of price supportive news for gold will keep prices in a downtrend in the near term.
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.