Profile picture
John Reade @JReade_WGC
, 7 tweets, 4 min read Read on Twitter
Gold: XAUUSD trading lower this morning in European hours after the weakness see on Friday. Most of the weakness seems to be due to a stronger USD; #gold is up in euro and roughly flat in CNY but DXY is at more than a one-year high.

Gold: We noted last week that a ‘gap’ had opened on our gold vs DXY chart. That hasn’t closed as such, but the strength in the dollar is dragging #gold lower.

Real US Treasury rates haven’t moved much in the past few days, but despite the move lower in #gold the gap that we’ve mentioned on a few occasions in the past month is still there.

Gold: COTR data, released Friday showed little change in speculative #gold positions held on the Comex futures market in the week to last Tuesday. The net short Managed Money position declined slightly, but changes were few and far between.

Gold: Changes in Comex #gold open interest data over the past few days – particularly for Friday’s session – suggest that new shorts entered the market late last week (and thus not in the COTR data for last Tuesday).

Gold: Although the S&P remains off 2018 highs and VIX is elevated, there are signs that markets are calming somewhat. Short-term direction in #gold will likely be determined by the strength of the US$ and whether other asset classes continue to normalise or not.

6/6 ends
@threadreaderapp Good morning. Please unroll. Thank you.
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 ($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!