opinion

CPM Trade Signal - May 28, 2024

Kitco Media
By CPM Group
Published:
Updated:
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CPM Gold Trade Recommendation

Time Stamp 

Prices as of 11:50 a.m. EDT 28 May 2024 $2,361.60 (Basis the August 2024 Comex contract). 

Recommendation: Stand Aside

Initial Target Price / Range: $2,280 – $2,450

Initial Timeframe: 28 May 2024 to 11 June 2024

CPM’s last Gold Trade Recommendation on 7 May had a “Stand Aside” recommendation and an expected range of $2,250 to $2,450, expecting a volatile market would continue and there was a risk of profit taking following rapid price increases since the middle of March to new record highs. The price was $2,321.60 that day.

Gold rose to $2,553 and then came off to $2,326, trading around $2,362 this morning.

CPM still recommends a Stand Aside posture for short-term investors. The economic and political environment remains extremely unsettled, opening the potential for gold to rise back above $2,400, to around $2,450 again. On the downside $2,250 still is possible, but CPM would raise the floor for the next two weeks to $2,280.

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.

Kitco Media

CPM Group

CPM Group is a commodities research, consulting, financialadvisory and commodities management firm providing independent research,analysis and advisory services related to commodities markets, corporate andproject finance, and the financial management of exposure to commodity orientedinvestments.

We started our business in 1986 predicated on the idea that commoditiesresearch and advice is best delivered by independent experts who do not work forbanks, brokers, mining companies, or any other entity that has interests thatcould conflict with the best interests of the clients receiving the research,analysis, and advice.

All of our work is driven by fundamental commodities research and economicanalysis. As we undertake our research into individual commodities markets wegather a tremendous amount of information and develop an enormous body ofextremely high quality, unbiased analysis of the markets and the companies thatare involved with individual commodities. The outputs of our research andanalysis take the form of research reports, specialized and targeted consultingrelated to these markets, financial advisory services ranging from corporate andproject finance structuring to equity introductions, and managing specificcommodities and investment positions for clients.

CPM Group continues to demonstrate the economic value and financial worth ofsuperior research, information, and analysis. Our research is based onmicro-economic analysis of the individual components of each commodity market,wedded with a top-down macro-economic analysis of the global trends affectingthese markets. We apply the results of that analysis to our research,consulting, and advisory services.

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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.