Update - CPM Group Trade Signal - February 26, 2021
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Prices as of 1:05 p.m. EST (18h05 GMT) 26 February 2021 $1,723.80 (Basis the April 2021 Comex Contract).
Direction: Stand Aside
Target Price / Range: Re-enter as a buy above $1,735
Timeframe: 26-02-2021 to 05-03-2021
CPM Group's sell recommendation this morning, with a price target of $1,750, was broken today. Prices of a range of commodities declined sharply in response to a jump in bond yields. Prices have the potential to decline further, but given how sharply and quickly prices have declined it is recommended that investors take profits from the previously sold positions and stand aside.
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.