Trade Recommendation 20-24th May

Timestamp (GMT)
17th May 15:46 £32.02g
Direction
Buy
Target Price / Range
£32.22g
Timeframe
20-24th 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 could rise next week as the roll of June 2019 Comex contract begins with earnest. Market participants are likely to buy back many of their short positions they put in place as prices have fallen since March, when gold briefly topped £33.35 per gram ($1,330 /oz). Trade dispute headlines between China and the U.S. pushed prices higher earlier this week as stock markets fell sharply. This trend has been reversing in recent days, however, markets remain tense. There remains scope for further price weakness, especially as the Northern Hemisphere enters the summer months and physical demand from both investors and fabricators slows.