Profile picture
John Reade @JReade_WGC
, 6 tweets, 3 min read Read on Twitter
Gold: Its likely to be quiet today, with the US markets closed for the Labor Day public holiday. But the CFTC released its Commitment of Traders Report on Friday, as usual. To summarise, speculators were still (just) net short #gold as of 28 August. 1/6
Gold: The Managed Money category also remains net short #gold, although as in the case of the legacy report net speculative position, the net Managed Money short decreased slightly last week. 2/6
Gold: There was not much change to the Managed Money gross long #gold positions, which were steady around 11.4 million ounces. 3/6
Gold: Gross short #gold positions held by Managed Money declined by 700koz but remain extremely elevated by historical levels.

Conclusion - We’ve not seen a major short covering rally yet! 4/6
Gold: I also updated the Net Speculative position for Silver, just out of curiosity. The net spec position for silver went even further into short territory, more or less matching recent extremes seen in April 5/6
Gold: Last week’s divergence in speculators’ moves in gold and silver made me wonder whether silver had fallen vs. #gold. It had – look at the gold/silver ratio, at its highest level since the early January 2016 and only a smidgeon below the 2008 high of the century. 6/6
Missing some Tweet in this thread?
You can try to force a refresh.

Like this thread? Get email updates or save it to PDF!

Subscribe to John Reade
Profile picture

Get real-time email alerts when new unrolls are available from this author!

This content may be removed anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just three indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member and get exclusive features!

Premium member ($3.00/month or $30.00/year)

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!