Gold prices rallied from an intraday low of $2,047 on 1 March to set record highs during the first half of March. Prices rose for seven days to set a record high of $2,203 on 8 March before retreating.
There is scope for a reactionary price movement following the Federal Reserve meeting and announcements later today. We expect no change in monetary action or stance, with most markets looking at what the Fed’s economic projections might suggest about future interest rate policies. It most likely would take a much weaker economic and financial environment for the Fed to decide to lower interest rates.
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. We started our business in 1986 predicated on the idea that commoditiesresearch and advice is best delivered by independent experts who do not work forbanks, brokers, mining companies, or any other entity that has interests thatcould conflict with the best interests of the clients receiving the research,analysis, and advice.