Trade Recommendation 4th Sep

CPM Group

Commodities Research

Timestamp (GMT)
4th Sep 15:44 £41.00g
Direction
Hold
Target Price / Range
£40.47 - £41.26g
Timeframe
4-13th Sep

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 surged in recent days, following increased tensions on trade between the US and China, Brexit, and a contraction in manufacturing activity in the US. Prices are likely to move sideways and consolidate around current levels, waiting for the next market moving event. There are several August macroeconomic releases scheduled over the next week and half, which could provide the required impetus to move prices out of this range. CPM Group is of the opinion that prices are more likely to break to the upside of this range in the short term. The gold market enters a seasonally strong period as we start September, which should provide downside support to prices for the remainder of the year.

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.

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