Trade Recommendation 22nd June

CPM Group

Commodities Research

Timestamp (GMT)
23rd Jun 14:19 £46.05g
Direction
Sell
Target Price / Range
£45.50g
Timeframe
22 - 26 Jun

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

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Important Disclaimer
Past performance is no indication or guarantee of anticipated future profits and neither Goldex nor CPM can accept any liability or responsibility for any loss suffered as a result of gold price fluctuations. Gold as a commodity is not a specified investment for the purpose of giving advice under the Financial Services and Markets Act 2000. Therefore this trade recommendation does not give rise to rights to claim compensation under the Financial Services Compensation Scheme. CPM is a registered CTA with the U.S. NFA and CFTC. At times the principals and associates of CPM may have positions in the precious metals, commodity and equities markets. CPM also manages investment and industrial positions in markets for its clients.