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John Reade @JReade_WGC
, 5 tweets, 3 min read Read on Twitter
Gold: Quite a volatile session overnight in #gold following some wild moves in JPY. Commentators are struggling to explain the FX moves but concerns about global growth on Apple's cut in sales outlook and illiquidity due to a Japanese holiday seem plausible resaons.

1/4
Gold: The daily picture is less noisy and #gold continues to move higher. The 14-day Relative Strength Indicator (RSI) in XAUUSD is beginning to look a little high, but not worryingly so.

2/4
Gold: Looking at #gold in euro terms, however, and it looks more extended with the 14-day RSI above 80.

3/4
Gold: The #gold price in CNY, which has had a very good run over the past three months, is somewhere in between with the RIS about 75.

4/4
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Gold: Considering that we had a very strong Employment Report out of the US on Friday, #gold performed pretty well over the past 18 trading hours. At $1291/oz at the time of writing it is some $15 above its post-NFP plunge and only about $7 below Friday morning's high.

1/6
Gold: This strength in #gold is not coming from US equity market fears, as US futures are roughly flat.

2/6
Gold: Rather it appears to be a combination of a modestly weaker US dollar, shown here as DXY over the past three days...

3/6
Read 8 tweets
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Gold: I find it ironic that that the government shutdown is making it 'harder' to trade #gold with confidence.

The CFTC's commitment of traders (COT) report is delayed indefinately while the US government is out of action.

1/3
Gold: Fortunately, Comex is not a government entity and continues to function. As you can see from here, open interest is reported daily and has increased quite a lot (4moz equiv) since 18 December.

2/3
Gold: Simplistically, with gold prices going up and OI up, speculators are likely adding to longs, driving the OI change and helping the price move higher.

I estimate the net managed money long is now at least 6.5 moz but could be more if short covering has happened too.

Ends
Read 4 tweets
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Gold: Back in the office for the first time since before Christmas, its time to look back on #gold's recent performance and what may lie ahead.

1/15
Gold: the recent strength in gold has been helped by some weakness in the US dollar.

But as this chart shows, #gold has run ahead of the weakening dollar.

2/15
Gold: plotting its performance in a number of currencies is another way of demonstrating that the dollar has not been the only factor lifting #gold.

3/15
Read 16 tweets

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In early October 2016, myself, & 2 high level prophetic voices (from USA) were led to go (in a subtle manner) and pray inside the #GOLD room of the luxe Mount Washington Hotel in Bretton Woods, NH, located in the Presidential Mountains.
This was the site of the Bretton Woods Conference from 1944. Otherwise known as the VERY formation of the IMF, the International Monetary Fund.

en.m.wikipedia.org/wiki/Bretton_W…
In that moment, we read and decreed a divorcement from Ba’al over the IMF. We decreed a 100% breakthrough and shift over the corruption with the IMF, world gold reserves, and the FED.

I don’t play.
Read 15 tweets
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In this era of income & wealth disparity, it is worth remembering that world’s richest man that ever lived was a Moslem Black African.

Meet Mansa Musa who owned all the Gold and Salt of the Mali Empire. He had made the legendary 2 year long 6,000 mile trip to Mecca
Mansa Musa had reportedly a net worth of $400 billion in today's money (three times that of Bill Gates). His journey to perform hajj went through Cairo where he spent so much of his Gold during his 3 months stay that he caused 25% drop in its price
Empire of Mali then was a massive half million sq miles. Within it, all the Gold was the personal property of Mansa (Emperor) Musa & anyone caught stealing it was quickly executed. Other than salt and gold, the Mansa made huge income form levying taxes on passing caravans
Read 5 tweets
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In progress. Rancang trade anda.
Update progress.
Done close all position. Start trade from Thursday close position friday. Only 2 days.
Progress 2 acc.

See u next week chart.
#fx #trader #accbilis #learnfromzero #dreambigstartsmall

(berminat untuk invest pulangan 5%-10% setiap minggu? Minimum 500usd. Berminat ws 0123671658)
Read 3 tweets
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A lot to unpack here
1) I don't quite recognise the numbers: possibly a mix-up between Brent and WTI. But it is true that crude prices have fallen very sharply since the beginning of October. Brent peaked at over $85 last month, and was below $64 just now
2) It's not really accurate to give most of the credit to Saudi Arabia, which has suggested that OPEC and its allies should cut production: ft.com/content/1e3639…
Read 11 tweets
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1/ Below is a Q3 2018 update on the global monetary base, or base money. This is certainly not the M1 money supply. Not M2. Not M3. The distinction is important. What is base money? Is it #gold? Is it government fiat? #Bitcoin?? Have some charts to share. This is installment #2…
2/ To begin, it's important to understand the universal accounting identity: Assets = Debt + Equity. Today, it's true that all fiat money is debt-based. But before exploring fiat money, let's look at asset-based money.
3/ Traditionally, commodity money has been asset-based, most notably gold. Gold is a true asset of the holder. If you own gold free and clear, it is your asset, and no one else's debt, no one else's liability.
Read 64 tweets
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Bought a lot of #gold today. Going home now because I think I might throw up.
Gold vs Commercial Short position with Daily Sentiment (DSI) indicated in red. I'm estimating real time commercial shorts are now less than 50k (green box) and maybe even lower.
1/ I have received so many DMs, emails and phone calls regarding the initial tweet about #Gold (above from Thursday) that I’m going to try and explain my thinking here. Hopefully it translates into a coherent answer.
Read 26 tweets

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