These trade recommendations are brought to you by CPM Group.
Due to market conditions, the views and positions of trade recommendations can quickly change. We strongly advise you to monitor our published trade recommendations on an ongoing basis.
Gold prices have broken above resistance levels recently, after having managed to hold above $1,700 / £44.20 support for the past week. Concerns about the overall health of the world economy continue as Covid-19 appears to be setting up new hot spots of infection. Some major economic regions have managed to temper the spread of the virus, but fears of a resurgence remain. There is likely to be some profit taking this week as July is the beginning of increases time off for the summer in the Northern Hemisphere by many.
Note: Discretion should be allowed at +/- $0.50 from the target.
USD/GBP exchange rate used: 0.81