CPM Trading Signal – Oct 3, 2022

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Pricing as of 12:34pm EDT Comex October 3, 2022 $1,698.10 (Based on the December 2022 Comex Contract).

Recommendation: step aside

Initial Target Price/Range: $1,665 – $1,710

Initial term: from October 3, 2022 to October 14, 2022

Gold prices rose today following the release of weaker-than-expected US manufacturing data. Economic activity was expected to slow, but a softer-than-expected ISM Manufacturing Index figure suggests a US economy that is slowing at a faster pace than would be desired. for the markets in general. Gold hit $1,702.90 before pulling back so far today. The increase in price volatility is expected to continue. Later this week, the release of US employment data should provide more information on economic conditions in the US Gold prices could rise if this data disappoints the markets.

In addition to the incoming economic data, there remains a possible escalation of the Russo-Ukrainian conflict. Russia appears to be losing control of her territory in the Ukraine, in essence losing the war. There has been increasing talk of possible desperate moves by Russia to keep the territories it has annexed from Ukraine. This has the potential to greatly increase volatility in the markets, something to watch out for and be on the lookout for.

CPM has ranges of one month, three months and eight quarter quarterly price projections with further discussion of the factors behind the CPM analytics provided in CPM’s monthly subscription service, the Consultancy in precious metals.

While short-term trading recommendations provide high-risk, high-reward opportunities for investors, it is difficult to capture the complex web of factors that affect precious metal prices and the nuanced CPM analyzes of these factors that go into the recommendations. price projections of our company. In addition to these short-term outlooks, CPM Group provides clients with enhanced trading recommendations, including one-month and three-month price projections, as part of our Retail Investor Program. Contact CPM at info@cpmgroup.com for more details.

Grades:

Initial target prices and timeframes are just that – initial. If CPM does not issue a new Recommendation during or after that time, it indicates that CPM maintains the position on the most recent Commercial Recommendation.

The position may be closed once the target price is reached, at the indicated discretion or until CPM provides a new trade recommendation. CPM may have advised that it closed the previous trade recommendation at its discretion prior to publicly posting the new trade recommendation due to processing time.

Discretion should be allowed at +/- 0.20% of the price at the time each TR is issued from the target.

CPM’s preferred investment strategies use options, futures, forwards and physicals.


Disclaimer – Past performance is not an indication or guarantee of anticipated future earnings, and neither Kitco Metals Inc. nor CPM Group can accept any responsibility for any loss suffered as a result of fluctuations in the price of gold. Commodity gold is not a specific investment for the purpose of providing advice under the Financial Services and Markets Act 2000. Therefore, this trading recommendation does not give rise to rights to claim compensation under the Financial Services Compensation. CPM Group is a registered CTA with the US NFA and CFTC. From time to time, directors and associates of CPM Group may hold positions in the precious metals, commodities and equity markets. CPM Group also manages industrial and investment positions in the markets for its clients.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has gone to great lengths to ensure the accuracy of the information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange of commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article accept no responsibility for loss and/or damage arising from the use of this publication.

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