Trade Recommendation 2nd Dec

CPM Group

Commodities Research

Timestamp (GMT)
2nd Dec 15:04 £36.33g
Direction
Hold
Target Price / Range
£36.07 - £36.44g
Timeframe
2-6 Dec

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.

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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.