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CPM Trade Signal - July 8, 2022

Commentaries & Views

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Time Stamp
Prices as of 9:20 a.m. EDT Comex 8 July 2022 $1,740.25 (Basis the August 2022 Comex Contract).

For More Detailed Thoughts On CPM Group’s Short-to-Medium Term Outlook enquire about the July Precious Metals Advisory.

Recommendation: Sell

Initial Target Price / Range: $1,720

Initial Timeframe: 8 July 2022 to 15 July 2022

The U.S. June jobs report was stronger than expected, highlighting the ongoing strength in the U.S. labor market. This job market strenghtn should give the Fed more leeway to tighten monetary policy to fight inflation, caused by factors like supply chain disruptions and high energy prices on which the Fed has no direct control, without excessive concern over the Fed throwing the U.S. economy into a recession. Gold prices had already moved sharply lower in anticipation of a strong labor report, which could limit the downside in gold prices to some extent. The strength in the labor market may also renew concerns about inflation which had subsisded to some extent in recent weeks. This too could provide support to prices. prices could move sideways to lower in this environment with an initial target of $1,720.

CPM has one-month, three-month ranges and eight-quarter quarterly price projections with greater discussion of the factors behind CPM’s analyses provided in CPM’s monthly subscription service, the Precious Metals Advisory.

While short-term trade recommendations provide high risk – high reward opportunities for investors, it is difficult to capture the complex web of factors affecting precious metals prices and the nuanced CPM analyses of these factors that goes into our firm’s price projections. In addition to these short-term outlooks, CPM Group provides clients enhanced trade recommendations that include one and three month price projections, as part of our Retail Investor Program. Contact CPM at for details.


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.