Trade recommendation 6th Nov

CPM Group

Commodities Research

Timestamp (GMT)
6th Nov 16:40 £37.35g
Direction
Sell
Target Price / Range
£37.11 - £37.62g
Timeframe
6-13 Nov

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 broken several support levels over the past several days. Prices have managed to hold up above $1,480 /£37.11, however. Recent improvements in financial market sentiments about the world economy are weighing on gold prices. Technical chart patterns now point toward lower prices, but are not strong at this point. The recent positive sentiment about the world economy could quickly pass and gold prices could quickly continue in their recent $1,480 – $1,520 / £37.11 – £38.12 trading range or even surge higher once more. In the meantime prices are likely to move sideways over the next several days.

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.