Trade Recommendation 8-15th Mar

CPM Group

Commodities Research

Timestamp (GMT)
8th Mar 15:17 £32.12g
Target Price / Range
£31.69g - £32.43g
8-15th Mar

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: Gold prices are testing $1,300 at the time of writing this report. Investors should stand aside until prices are able to break above this level in a convincing fashion. Strength in prices on 8 March can be attributed to the European Central Bank’s (ECB) renewed dovish tone and a weaker than expected February U.S. jobs report. While the ECB’s dovish tone highlights weakness in the European economy, it also results in a weaker euro versus U.S. dollar, which would act as a headwind for gold prices. While hiring slowed in the U.S. during February the labor market remains strong, with a monthly average 186,000 jobs added between December and February a very healthy figure for the current stage in the economic cycle.

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  1. 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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