Trade Recommendation 5th Jul

CPM Group

Commodities Research

Timestamp (GMT)
5th Jul 15:05 £35.77g
Target Price / Range
5-12th Jul

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 had a volatile ride these past several days. Prices have surged $50 / £1.29 since 1 July only to lose these gains by 5 July. Light trading volumes amid the U.S. holiday on 4 July and technical buying pushed prices higher initially. Prices retreated some shortly thereafter, but really lost ground on better than expected jobs numbers for the U.S.

There remains a whole host of exogenous issues that could easily spur another run up in prices, but these may already be factored into the gold price. Gold has not been able to keep the gains made every time it surges above $1,400(oz) / £36.01(g), because profit-taking quickly emerges.

Note: Discretion should be allowed at +/- $0.50 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.