CPM Trade Signal - Dec.1, 2021
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Featuring views and opinions written by market professionals, not staff journalists.
Prices as of 9:32 a.m. EDT (14h32 GMT) 1 December 2021 $1,790.90 (Basis the February 2022 Comex Contract).
Direction: Stand Aside
Initial Target Price / Range: $1,760 - $1,850
Initial Timeframe: 1 December to 10 December 2021
The past two Gold Trade Recommendations issued by CPM last week and this Monday have recommending short term spot gold investors stand aside for now, pending clearer directional indications.
CPM’s view is that gold will continue to trade between $1,770 and $1,810 for the next several days at least. Until there is a clear break above or below this range, the gold price remains in our view vulnerable to a sharp break downward, upward, or both (a sell-off followed by a rebound).
CPM advises options-engaged investors to continue to hold straddles.
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.