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John Reade @JReade_WGC
, 6 tweets, 3 min read Read on Twitter
Gold: The COTR for #gold, released on Friday, for positions as of last Tuesday, show that the Net Managed Money position flipped back into positive territory for the first time since 10 July.

(short thread)
Gold: This was not due to new Managed Money longs coming into #gold, as this chart shows.

2/5
Gold: Rather this was due to further Managed Money short-covering in #gold.

3/5
Gold: The gold price increased by $5/oz in the reporting period (the week to 11 December) and is currentlyu around $1248.50, edging closer to the spot 200-day moving average ($1253.40/oz)

4/5
Gold: Although I suspect the more important level is the 200-day moving average on the active Comex Future (now Feb) which is about $20 above current levels.

5/5
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