Goldex

Trade Recommendation 4-7th Dec

CPM Group

Commodities Research

Timestamp (GMT)
4th Dec 14:28 £31.27g
Direction
Hold
Target Price / Range
£30.85g - £31.60g
Timeframe
4-7th 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.

Technicals: Take profits! Gold prices have risen around £0.63 per gram ($25 /oz) from where CPM recommended to buy £30.72 per gram ($1,219 /oz), just two trading days ago. The rise was in line with equities and other assets rising on news of some sort of U.S. China agreement on trade. The agreement is tenuous and the euphoria should be expected to fade in a couple of days. Gold may slump back and provide a lower level to repurchase. Gold would have to hold above £30.97 per gram ($1,235 /oz) for it to continue to trade around current levels and move higher. Prices are expected to continue to be volatile this week and resistance levels could be test too followed by profit taking. These could be opportunities for day traders. CPM will look to issue a firmer recommendation later this week assuming a sell off.

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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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