CPM Gold Trade Recommendation
Time Stamp
Prices as of 1:40 p.m. EST 6 May 2026 $4,690.80 (Basis the June 2026 Comex contract).
Recommendation: Buy
Initial Target Price / Range: $4,800
Initial Timeframe: 6 May 2026 to 20 May 2026
Stop Loss: $4,650
The gold market continues to be volatile, with prices moving in a more than $220 plus range since the start of the month. Prices have risen from an intraday low of $4,510.10 touched earlier this week and are now testing resistance levels. The on and off stances by the U.S. administration against Iran and the shifting timelines, deadlines, and divergent comments by administration officials continue to confuse and quickly shift market sentiment.
Most recently, there have been comments of negotiations moving forward between the U.S. and Iran. This said, the Strait of Hormuz remains closed by Iran and the U.S. continues to have a blockade. Oil prices meanwhile have retreated sharply after having risen into late April. This could suggest increased scope to lower interest rates, but regardless volatility in most markets is expected to continue. At present financial markets are leaning toward flat to higher interest rates in future months, rather than lower rates.
Gold prices appear to be in an uptrend for now, but resistance levels will have to be broken for prices to head higher.
CPM continues to place closer in targets and stop loss levels, reflecting the two-way volatility that is continuing.
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.
