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.
Technicals: Gold prices have recently moved to trade in a relatively narrow range over the past several days. This has been despite headlines that should have moved gold prices more forcefully, in either direction, such as the recent escalation of trade dispute between China and the U.S.. It may be that the markets have experienced so many market moving headlines over the past several months that there is now less of a reaction to them. This said, prices remain in a downward trend, at least for the next several weeks. If prices break below near-term support levels, gold may fall to test £30.95 per gram ($1,250 /oz).