Trade Recommendation 16th Jan

Timestamp (GMT)
16th Jan 15:15 £38.48g
Direction
Sell
Target Price / Range
£38.12g
Timeframe
16-24 Jan

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.

Risk is now tilted to the downside. Gold has been holding up well and could hold above $1,540 / £38.12.

Economic data appears to be healthy recently. There were no surprises in U.S. – China trade deal announced yesterday; stocks continue to holding up well and are likely to rise. Gold is holding up well too, but has been capped at $1,555 / £38.50. If stocks continue to rise in the short-term, a pullback in gold possible.

Note: Discretion should be allowed at +/- $0.50 / £0.01 from the target.