CPM Group Trade Signal - April 1, 2021
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Featuring views and opinions written by market professionals, not staff journalists.
Prices as of 9:20 a.m. EST (14h20 GMT) 1 April 2021 $1,723.10 (Basis the June 2021 Comex Contract).
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.