CPM Gold Trade Recommendation
Time Stamp
Prices as of 1:28 p.m. EST 28 May 2026 $4,535.00 (Basis the August 2026 Comex contract).
Recommendation: Sell
Initial Target Price / Range: $4,375
Initial Timeframe: 29 May 2026 to 12 June 2026
Stop Loss: $4,610
Gold prices dropped to test $4,400 this morning, touching $4,395.60 before rebounding to $4,545. Gold and the other major precious metals have been moving in an ultra-short-term downward trend, testing short term support levels. A break below $4,400 could trigger a wave of selling taking gold to $4,100, which some technical analysts are citing.
The June Comex futures contract has largely rolled into August, with only around 6.1 million ounces of open interest remaining in the June contract. This also is taking some upward pressures off of prices at present, opening the door for another leg down in prices.
Some investor ardor has cooled. Economic conditions do not appear as dire as they did a couple of months ago. While both domestic and international political conditions remain perilous, they seem to have entered a temporarily quiet period. These calmer exogenous trends have caused some investor profit-taking and reduced buying pressures, at least on a short term basis.
Any of these factors can turn worse quickly, which would be expected to revive investor gold buying and push prices higher, but for now gold appears to be consolidating in that
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.com for details.
Notes:
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 posture in the most recent Trade Recommendation. Position may be closed out once target price is reached, within the noted discretion or until CPM provides new trade recommendation. CPM may have reported to have closed out of prior trade recommendation at its discretion before publicly publishing 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 physical, futures, forwards, and options.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of 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 in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.