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 in a relatively narrow range since the second week of November. The latest data and news provides little clarity with regard to the global economy, with Chinese data stronger than expected and U.S. data weaker than expected. Growth around the world continues for the most part, although at low levels. Accommodative monetary policy is aiding along with some reduced rhetoric and friction between trading counterparts. There is still little clarity with regard to the U.S. China trade talks, with 15 December soon approaching. Technically, gold prices are in a slight downward trend. Barring any resurgence and escalation in traded disputes, gold is expected to head lower.
Note: Discretion should be allowed at +/- $0.50 / £0.01 from the target.