CPM Group Trade Signal - June 29, 2021
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Prices as of 8:50 a.m. EDT (13h50 GMT) 29 June 2021 $1,757 (Basis the August 2021 Comex Contract).
Direction: Stand Aside
Initial Target Price/ Range: $1,750 - $1,800
Initial Timeframe: 29 June 2021 to 9 July 2021
Gold prices fell below support of $1,770 today. While there is scope for prices to fall further should support levels falter, there is not much that has changed or evolved in the past day in the gold market. The lack of significant fundamental and major economic news could keep gold prices range bound. Prices remain supported by what has been happening economical and financial over the years, but seem to be capped for now as the Summer months in the Northern Hemisphere tend to be a relatively weak period of fabrication demand and investor interest.
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.