CPM Gold Trade Recommendation
Time Stamp
Prices as of 10:30 a.m. EDT 28 September 2026 $4,171 (Basis the December 2026 Comex contract).
Recommendation: Stand Aside
Initial Target Price / Range: $4,000 - $4,30
Initial Timeframe: 28 September 2026 to 12 October 2026
Stop Loss: N/A
Bond yields have been on the rise and reached multi-year highs this morning. Unsurprisingly this has weighed on markets across the board, from stocks across commodities including precious metals. The selling occurred in Asian and European market time zones. It appeared to reflect higher petroleum prices, economic concerns, a reduction in expectations of any peaceful resolution of the U.S. Iran war, concerns across party lines regarding the upcoming U.S. Congressional elections, and a continued deterioration in respect for government leaders in many countries.
While the medium-to-long-term prospects for gold remain positive, in large part for some of the same reasons bond yields are rising, in the near-term gold prices are expected to remain under pressure.
While CPM Group expects prices to decline in short term, it would recommend waiting for prices to rise some small amount after the sharp declines this morning before initiating any fresh short positions.
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.
