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CPM Trade Signal - Oct. 22, 2021

Commentaries & Views

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Time Stamp
Prices as of 9:24 a.m. EDT (14h24 GMT) 22 October 2021 $1,806.50 (Basis the December 2021 Comex Contract).

Direction: Buy

Initial Target Price/ Range: $1,818

Initial Timeframe: 22 October 2021 to 5 November 2021

Gold is testing $1,808 as this is being written. If prices stay above $1,800 it could lead to fresh long buying and stop-loss liquidation of shorts, which could take gold prices briefly to $1,810 or $1,818.

However, if gold fails to mount $1,800 convincingly new selling could take prices back down, with technical targets at $1,780, and lower.

Financial markets have been trying to understand how an economy might be expanding while it has issues to deal with. That should not be a difficult concept to grasp, since it happens constantly, but financial markets sometimes are collectively baffled by the simplest things.

Gold is no exception, having been range bound for a few weeks. It has been registering higher lows since the late September sell-off, however, suggesting upward momentum may be greater than the offsetting impulses to short gold.

Gold remains highly vulnerable to another sell-off, but the momentum is toward higher 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.

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.