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CPM Group Trade Signal - May 27, 2021

Commentaries & Views

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Time Stamp
Prices as of 12:12 p.m. EDT (17h12 GMT) 27 May 2021 $1,893.00 (Basis the June 2021 Comex Contract) and $1,895.60 basis the now nearby active August Comex contract.

Direction: Hold

Initial Target Price / Range: $1,890 - $1,910

Initial Timeframe: 27 May 2021 to 28 May 2021

Gold has risen above $1,900 for both the June and August gold contracts. The June contract expires tomorrow, Friday 28 May. CPM plans to issue a new Trade Recommendation tomorrow.

For now our posture is to hold gold. Our proclivity for short-term investors may be to sell on expectations that prices could sell off somewhat after the June contract has expired, but we are reserving that decision until Friday.

While the futures contract mechanisms are important, the fact that Monday is a holiday in London and New York also is a factor to consider. So, too, are conditions in the macro-economic environment, and trends in the dollar, U.S. interest rates, and equities.

Notes:

Initial Target Prices and Timeframes are just that: Initial. If CPM does not issue a new Recommendation during or after that time it indicates that CPM is maintain the posture in the most recent Trade Recommendation.

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.

CPM’s preferred investment strategies use physical, futures, forwards, and options.


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.