Trade Recommendation 21st October 2020

Timestamp (GMT)
21st Oct 2020 09:18 £47.02g
Direction
Buy
Target Price / Range
£47.58g
Timeframe
21st - 30th Oct 2020

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 been moving mostly between $1,880/oz. (£45.87/gram) and $1,940/oz. (£47.33/gram) since the beginning of the month. Volatility has actually declined compared to gold price activity in September. There continues to be strong interest in gold from investors, with many taking declines in prices as a buying opportunity. Recent U.S. dollar movements have been increasingly influential on gold prices, but a decoupling should be expected given the array of ongoing financial, economic, and political problems around the world. Unforeseen headlines will push and pull at gold prices in the short term, but the medium to longer term price direction remains to upside for now.

 

Note: Discretion should be allowed at +/- 0.20% of the price at the time each TR is issued from the target. Recommendations are valid until the target date or a new Trade Recommendation or message is issued by CPM.

US$/GBP exchange rate used: 0.76