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

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

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

Gold: ...and slightly softer real US Treasury yields have helped #gold regain its footing.

Gold: There's no COT report (again) today due to the US gov. shutdown but looking at changes in Comex #gold open interest, I estimate that the Managed Money net position is only modestly long, unchanged from when I updated this 'guess' last week.

Gold: We continue to have ETF data, of course. As this BBG story discusses, ETFs continue to accumulate modest new assets.

This, together with the China news, reported earlier (and which we are dbl-checking), all in all its a relatively upbeat start to the week in #gold.

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