CPM Trade Signal - Sep. 21, 2021
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
Prices as of 11:53 a.m. EDT (16h53 GMT) 21 September 2021 $1,779.40 (Basis the December 2021 Comex Contract).
Initial Target Price/ Range: $1,800
Initial Timeframe: 21 September 2021 to 30 September 2021
Gold prices climbed higher today, topping our target of $1,780 and reaching $1,782.80 before easing. Today’s climb higher follows yesterday’s drop in equity markets. It appears investors are taking prices below $1,780 as a buying opportunity. Prices below this level were shortlived in early August and also recently. Prices now appear to be headed toward and possibly above $1,800. Global financial and political conditions continue to be increasingly supportive of gold prices. The next influential factors to prices could be comments from the Federal Reserve, which will be known tomorrow afternoon. Drama surrounding raising the debt ceiling could also provide support to gold prices.
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.