CPM Group Trade Signal - March 30, 2021
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Featuring views and opinions written by market professionals, not staff journalists.
Prices as of 9:44 a.m. EST (14h44 GMT) 30 March 2021 $1,683.30 (Basis the April 2021 Comex Contract).
Target Price / Range: $1,695
Timeframe: 30-March-2021 to 06-April-2021
Gold prices have declined sharply over the past coupled of days and could be vulnerable to further declines. That said, there is a greater probability of gold prices moving higher from here. The swift decline in prices over the past few days is pushing the metal into oversold territory, which could provide a short-term bounce to prices. Prices have declined on a strengthening U.S. dollar and rising bond yields as the U.S. economy remains strong and is doing a relatively better job at bringing covid under control compared to most other major economies.
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.