Trade Recommendation 13-17th May

CPM Group

Commodities Research

Timestamp (GMT)
10th May 14:49 £31.85g
Direction
Sell
Target Price / Range
£31.56g
Timeframe
13-17th May

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).

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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.

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