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John Reade
@JReade_WGC
, 5 tweets, 2 min read Read on Twitter
#gold is pushing higher in European trading on Tuesday morning, last at $1307/oz.
The US dollar remains nailed to the lower end of its recent range and US S&P500 equity futures are (slightly) lower, not shown here.
US Real 10-year Treasury yields are almost unchanged, off 1bp
Finally, gold-backed ETFs added a solid 200koz yesterday marking the third consecituve day of inflows.

Best of luck
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John Reade
@JReade_WGC
Gold: We've seen dollar-denominated #gold soften a little since the start of February, as this chart shows.
Gold: The major driver of this weakness in #gold was the strength of the US dollar, which looks relentless on this one-month chart.
Gold: ...and this is reflected in #old's performance against other currencies which generally have not seen the same softness since the beginning of February.
Read 4 tweets
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John Reade
@JReade_WGC
#Gold is trading around $1300/oz at noon in the UK on Monday, holding onto most of Friday afternoon’s gains.
#Gold: As a reminder, we believe these gains come after a Wall Street Journal article suggested an early end to Fed balance sheet shrinkage (paywalled).
wsj.com/articles/fed-o…
Gold: Comex #gold open interest increased by 1.5 million ounces on Friday, suggesting more new longs than covering shorts.

Some modest inflows were reported by the ETFs too, but less than 100koz.
Read 7 tweets
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John Reade
@JReade_WGC
One of my colleagues, Adam Perlaky, manager of investment research for @goldcouncil in New York, put together a summary of how gold, NASDAQ and bitcoin performed in the Q4-18.
It was a period of equity market weakness and we wanted to see any evidence of bitcoin behaving as a safe haven - one of the supposed reasons for holding the cryptocurrency.
Simply put, the price was highly correlated with the Nasdaq (69%), while the Nasdaq was negatively correlated with gold (-73%). Crypto behaved like a risky asset, specifically like a speculative tech stock.
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mcm-ct.com
@mcm_ct
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Let’s get this mini #mcm_chartstorm going

$SPX resistance - big time overhead
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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…
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Reading #usgs #yellowstone Caldera Chronicles while visiting #LakeTaupo. Another #supervolcano, its effects are apparent all over the #NorthIsland. (Note: #notavolcanologist #justinterested)
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David Jensen
@RealDavidJensen
1) @Gold_AntiTrust is frustrated James Grant doesn't know central banks manipulate #gold.

Ea day in London, 220M oz of unbacked gold debt instruments are traded primarily between bullion banks.

Est'd 500M oz open int. claims in spot contracts.

#silver gata.org/node/18244
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In 1987, Bank of England created the LBMA (90% of global gold trade ea day) trading unbacked paper #gold.

safehaven.com/article/42493/… @Gold_AntiTrust
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@EdBorgato
1/ I'm walking around lower Manhattan half lost. I know what I'm looking for - it's close, but coming out of the subway has me turned around. I've never been here before, it's literally my first time in New York City...

It's October 19th, 1987. I'm 18 years-old.
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IMReturnsManager
@IMRiskManager
Weekly Spam Alert
#WeekendReading The Universal Principles of Successful Trading by Brent Penfold
read good reviews of it many times in past
1 If u function only in an environment of certainty & security, like being in a secure relationship or secure job, then trading is not for u
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