CPM Gold Trade Recommendation
Time Stamp
Prices as of 10:05 a.m. EDT 11 October 2024 $2,666.10 (Basis the December 2024 Comex contract).
Recommendation: Sell
Initial Target Price / Range: $2,625
Initial Timeframe: 11 October 2024 to 25 October 2024
Stoploss: $2,690
There is undoubtedly a lot of positive investor sentiment toward gold at this time and this is expected to help keep gold prices at elevated levels. Despite the positive sentiment gold is not insulated from pullbacks. Prices could move in a range, at elevated levels, over the next several days. Prices could test $2,675 or $2,680 on the upside but are then expected to retest $2,625 a low seen earlier this week.
NOTE: With this issue CPM is adding Stoploss levels to its Trade Recommendations. CPM has tracked the hypothetical returns of its Gold Trade Recommendations since 2018 with and without Stoploss levels added to them. The use of stoploss levels significantly improves the hypothetical returns.
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.
