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CPM Group Trade Signal - April 1, 2021

Commentaries & Views

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Time Stamp
Prices as of 9:20 a.m. EST (14h20 GMT) 1 April 2021 $1,723.10 (Basis the June 2021 Comex Contract).

Direction: Sell

Target Price / Range: $1,705

Timeframe: 1 April-2021 to 09-April-2021

Gold prices topped $1,700 on the last day of March. Bargain buying, long position building, and technical buying likely helped push prices higher. Over the past month prices have been range bound, with declines below $1,700 seen as buying opportunities. Prices are likely to move sideways over the next several days, waiting for some market moving news or data to provide firmer direction. Given we are near the top of the current range, and prices have been building firm support at $1,700, any decline toward this level might be seen as a buying opportunity.

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.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.