CPM Gold Trade Recommendation
Time Stamp
Prices as of 9:50 a.m. EST 27 November 2024 $2,676.81 (Basis the February 2025 Comex contract).
Recommendation: Buy
Initial Target Price / Range: $2,700
Initial Timeframe: 27 November 2024 to 11 December 2024
Stop Loss: $2,600
Gold prices fell sharply earlier this week in response to a de-escalation of tensions in the Middle East and the market viewing Trump’s nominee for Treasury secretary – Scott Bessent – as someone who would have a softer approach toward tariffs. There were and are concerns that tariffs, if increased sharply, have the potential to drive inflation higher and reduce economic activity, perhaps precipitating recessions in major trading nations. These concerns were calmed to some degree with the appointment of Scott Bessent. While these factors weighed on gold prices, the medium to long term economic and political issues have not gone away, which continues to make gold an attractive purchase on pullbacks.
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.
