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CPM Trade Signal - Sep. 20, 2021

Commentaries & Views

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Time Stamp
Prices as of 9:23 a.m. EDT (14h23 GMT) 20 September 2021 $1,759.10 (Basis the December 2021 Comex Contract).

Direction: Buy

Initial Target Price/ Range: $1,780

Initial Timeframe: 20 September 2021 to 30 September 2021


Gold prices fell sharply last week, despite what appears to be increasingly supportive news for gold. This news ranges from economic to political to financial. Prices bottomed out today at $1,742.30 before rising to current levels. Technical trading appears to be overriding any fundamental support for prices. Once gold fell below $1,780 support last week prices fell to the next support level, which is around $1,740. Prices remain vulnerable to another sell-off, on a technical basis, but many market participants may wait for what the Fed has to say for further price conviction. It may be worth standing aside until then, but if prices do rise then one could miss the rally if not positioned now.

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.