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Time Stamp
Prices as of 11:26 a.m. EST 22 June 2023 $1,924.10 (Basis the August 2023 Comex contract).
Recommendation: Sell
Initial Target Price / Range: $1,912
Initial Timeframe: 22 June 2023 to 7 July 2023
Gold prices have been trending lower overall since early May, when they reached a record peak of $2,085.40. Gold is now trading firmly below $1,950, with prices touching an intraday low of $1,928.60 so far today. It is expected that gold prices continue to move lower in the weeks to months ahead, a usual pattern during the July through August timeframe. It would not be surprising, however, to see gold prices rally on occasion, as it has over the past month. Prices will likely test support levels and likely recover a bit before continuing their trend lower.
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 info@cpmgroup.com for details.
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 maintains the posture in the most recent Trade Recommendation.
Position may be closed out once target price is reached, within the noted discretion or until CPM provides new trade recommendation. CPM may have reported to have closed out of prior trade recommendation at its discretion before publicly publishing new trade recommendation due to processing time.
Discretion should be allowed at +/- 0.20% of the price at the time each TR is issued from the target.
CPM’s preferred investment strategies use physical, futures, forwards, and options.
CPM Group wants to thank the following companies for helping us make these short Trade Signals available free of charge, and for their commitment to providing good information in opaque and asymmetrical commodities markets.
Kitco
Metallic Minerals
Stillwater Critical Minerals
Granite Creek Copper
