CPM Gold Trade Recommendation
Time Stamp
Prices as of 11:45 a.m. EDT 16 October 2024 $2,687.91 (Basis the December 2024 Comex contract).
Recommendation: Stand Aside
Initial Target Price / Range: $2,645 - $2,750
Initial Timeframe: 16 October 2024 to 30 October 2024
CPM Group's stop loss level was triggered. Gold prices are likely to remain at elevated levels and possibly continue rising. That said, there is no fresh news that warrants a sustained break above record levels. The upcoming U.S. election should prevent any meaningful decline in prices and gold prices should remain volatile in the near term.
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.
