CPM Group Trade Signal - June 4, 2021
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Prices as of 12:10 p.m. EDT (17h10 GMT) 4 June 2021 $1,894.90 (Basis the August 2021 Comex Contract).
Initial Target Price/ Range: $1,875
Initial Timeframe: 4 June 2021 to 11 June 2021
Gold prices fell sharply this week, dropping to $1,855.60 this morning. Prices then rose sharply, touching $1,899, after a less-than-stellar U.S. employment report was released.
CPM had planned to issue a Buy recommendation this morning when prices were around $1,880, with the view that prices could trade between $1,850 and $1,900. That range still seems operable to CPM for the next week’s gold price activity.
Since prices have almost touched $1,900 and are trading close to it, our short-term position would be to sell gold here with a view to buy when prices drop to $1,875 or lower.
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.