CPM Trade Signal - December 5, 2022
Be the first to know when a new trade signal is out! Click here to sign up for e-mail notifications. Initial Target Price / Range: $1,780Our most recent gold Sell target of $1,795 was reached Friday. Prices bounced back right away, which suggests that there is a fair bit of strength in investor interest going long at these price levels once they show signs of beginning to rise once more. This morning gold showed some strength early, rising to around $1,825, before falling back to $1,785.
In the face of stronger economic data and expectations and reduced political tensions gold prices seem most likely to decline on a short-term basis over the next several trading days, before the FOMC announcement next Wednesday, 14 December. This said, prices could continue to consolidate in the present range or even try to move up a bit, following an interim price decline.
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.
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