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John Reade @JReade_WGC
, 4 tweets, 2 min read Read on Twitter
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.

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More from @JReade_WGC see all

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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: 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
Read 5 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

Related threads

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#ShutdownStories
I had a conversation with my sister about the #Shutdown today. I'm recalling this as best I can. I called to tell her about a news alert regarding food stamps. Thanks to the government shutdown, stores can't process any SNAP benefits until it's over.
1/13
My sister, who is blind and has a severe mental illness, will be at risk of going without food but she supports Trump and stated that he needs the wall to keep people from taking benefits away from us.

*sigh*
2/13
The people who have been laid off are the ones who help stores process SNAP payments. Keeping American citizens fed is a nonessential service. THINK ABOUT THAT. If this shutdown goes any longer, people like her could be in danger of losing her health and food benefits.
3/
Read 14 tweets
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So @realDonaldTrump @SecNielsen @SecAzar @DepSecHargan

I heard y’all got bench slapped
Using psychotropic drugs on unaccompanied minors
Judge McGee called your administration out:
“evidence corroborates their claims that ORR has engaged in such conduct”
maddogpac.com/blogs/spicy-fi…
Here’s your June primer...in which our Government admits they are using psychotropic drugs on unaccompanied minors without prior consent or at the minimum at the supervision of a neutral 3rd party
Judge certified 5 classes said @realDonaldTrump Government Shutdown is not an acceptable reason to issue a stay
“The prosecution of this action should not be further delayed because it concerns the health and welfare of minors in the custody of the Office of Refugee Resettlement”
Read 11 tweets
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Facebook has more users than either Islam or Christianity, and each user spends the better part of an hour on the service every day. Alongside such treasures as football, Coca-Cola, and the US dollar, FB is one of humanity's most widely used and recognized cultural artifacts.
When someone claims that this or that entity managed to 'hack' Facebook toward some end, the bar of proof is high as the FB numbers around anything quickly get stratospheric, defying our everyday understanding of 'a million' (which in FB land is a rounding error).
This week a team at Oxford, armed with data that FB/TWTR/GOOG turned over to the US Senate, issued a report that catalogs the scale of the Russian effort to influence the 2016 election.

(Link to original report in piece.)

washingtonpost.com/technology/201…
Read 22 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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#Report #Thread
1/5
 This young man is Muhammad Sharif Badwan. He was killed East of #Gaza City at the Karni crossing after being shot in the chest by #IDF gunfire on Friday afternoon. #Israel
2/5
 Many news sites refer to Badwan as either a protestor or a demonstrator who was shot and killed by the #IDF. The photo on the left, from the DailyMail, states Badwan is a protestor. The photo on the right from CGTN states Badwan is a protestor as well.
3/5
 The problem is Badwan wasn’t there to protest in the way most people think. This video was taken Friday afternoon at the Karni crossing where Palestinians were clashing w/ #IDF soldiers. At the end, you can see Badwan being evacuated after getting shot by the #IDF.
Read 5 tweets
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1) The winning is absolutely amazing 😉! Here are some more:

2)
3) These percentages are absolutely frightening to the Democrats! Aptil’s Approval Rating among Blacks hits 17%! Anything over 10% in 2020 would be a landslide victory for our President!

Read 7 tweets

Trending hashtags

#shutdown #SCOTUS #TeamPatriot #Brazil #EnoughIsEnough #KremlinAnnex #Israel #MAGA #government #Italy #SPD #NeverForget #trade #TheGreatAwakeningWodwide #AfD #ThePatriotTimes #Assange #NeverAgain #TrumpShutdown #IDF #price #wut #EdgarDegas #CSU #TrumpLies

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