CPM Trade Signal - July 18, 2023
Time StampInitial Target Price / Range: $1,900 - $2,000Gold prices rallied last week as lower than expected inflation figures for the U.S. suggested that monetary officials might not raise interest rates beyond their next Fed meeting. Today gold prices reached an intraday high of $1,986.60 before easing. The quick shift in sentiment about interest rates, inflation, the economy, and gold may last through the end of this month.
Once the roll and Fed meeting are passed, there could be scope for increased price weakness. It would not be surprising to see gold prices fall back toward $1,900 soon after, barring any major headline news. An appreciating U.S. dollar could weigh heavily on gold prices if it begins to materialize. CPM has one-month, three-month ranges and eight-quarter quarterly price projections with greater discussion of the factors behind CPM’s analyses provided in CPM’s monthly subscription service, the Precious Metals Advisory.
While short-term trade recommendations provide high risk – high reward opportunities for investors, it is difficult to capture the complex web of factors affecting precious metals prices and the nuanced CPM analyses of these factors that goes into our firm’s price projections. In addition to these short-term outlooks, CPM Group provides clients enhanced trade recommendations that include one and three month price projections, as part of our Retail Investor Program. Contact CPM at info@cpmgroup.
Discretion should be allowed at +/- 0.20% of the price at the time each TR is issued from the target. CPM Group wants to thank the following companies for helping us make these short Trade Signals available free of charge, and for their commitment to providing good information in opaque and asymmetrical commodities markets. CPM Group Contributing to kitco.com
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Federal candidates lobby for votes ahead of July 24 Calgary-Heritage byelectionAn iconic south Calgary riding that has sat vacant since January will soon have its federal seat filled as voters hit the advance polls in Calgary-Heritage.
Read more »
Letters to the Editor, July 17, 2023Letters to the Editor, July 17, 2023
Read more »
Your daily horoscope: July 17Your daily horoscope
Read more »
Your daily horoscope: July 17Your daily horoscope
Read more »