CPM Gold Trade Recommendation
Time Stamp
Prices as of 11:45 a.m. EST 30 April 2026 $4,625.80 (Basis the June 2026 Comex contract).
Recommendation: Sell
Initial Target Price / Range: $4,500
Initial Timeframe: 1 May 2026 to 15 May 2026
Stop Loss: $4,715
CPM has been projecting prices would remain volatile in a sideways to upward fashion throughout April. The range we used for the second half of the month was $4,400 - $4,950. Gold prices in fact have traded in a volatile sideways range over April.
Prices may remain in that range, but there is a clear downward bias emerging. Investors have pulled back from buying in some sectors, not just for gold or precious metals, but across commodities. Long-term political and economic concerns have increased, but shorter term expectations have grown less anxiety-ridden.
In this environment CPM is issuing a Gold Sell Trade Recommendation for the ultra-short term. We are using closer in targets and stop loss levels, since we would not be surprised to see markets continue to trade sideways in a volatile fashion on an ultra short term basis. That said, the bias does seem to point to spikes lower in the near term. A break to the target here of $4,500 might lead to profit taking.
Larger declines- are possible over the next four months or so, but for now prices may remain range-bound.
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.
