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John Reade
@JReade_WGC
, 5 tweets, 4 min read Read on Twitter
How worried should #gold bulls be by near-record net-long positions in #gold on Comex.

Grey haired market participants (like me) know that positioning extremes ‘often’ lead to reversals, as the ebbs and flows of gold and net longs show on this chart.
BUT

There have been times when net longs in gold have been elevated for years, yet this hasn’t stopped #gold heading high – see the area highlighted here between Oct 09 and July 11.
Remember, Comex is only one part of a much larger #gold market and under the right circumstances, large long or short positions can prevail for a LONG time and gold can move a LOT while positions are at extremes.
Remember to head to #goldhub and check our #blog for regular updates and insights into the #gold market.

gold.org/goldhub
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John Reade
@JReade_WGC
Gold trading just below $1500/oz in early European trading, about $35/oz off Tuesday’s intraday highs.

The sell-off in #gold had two triggers: the release of slightly firmer US CPI and signs of a slight thaw in the Sino-US trade war.
The sell-off triggered some outflows in #gold ETFs, which posted their first decline in 12 sessions and the largest one-day outflow in 3 months, accordiing to Bloomberg's robots.
Inflows into #gold-backed ETFs still healthily positive for the month to date, as the screenshot from our proprietary database shows.
Read 5 tweets
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John Reade
@JReade_WGC
$Gold: consolidating above $1500/oz at the start of the week - last around $1502.80 following some volatility in early European trading.
An early test below $1490 per ounce just after 8am London was short-lived and $ quickly bounced back above $1500/oz.
If #gold is not quite following real US interest rates tick-for-tick, then its pretty close.
Read 13 tweets
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John Reade
@JReade_WGC
Gold: Steady at the start of the week and trading around $1427/oz.

#Gold had a volatile week but posted some decent gains despite trading down to $1400/oz on Wednesday 17th July.
The robots from Bloomberg, @business, report inflows of 224koz yesterday into physical #gold-backed ETFs for Friday.
@business Our own, more comprehensive database, shows mtd #gold flows dominated by US-listed funds, a change from the early part of the year when European funds saw the lion's share.
Read 7 tweets

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Ritvik Carvalho 📉
@ritvikcarvalho
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Henrik Zeberg
@HenrikZeberg
Dear all 🙂Hope you enjoy the weekend! We are still in the Twilight Zone. Despite continued deteriorating economic fundamentals across the globe, US stock market continues to rally. But for how long...? Stay tuned for some #HZupdates
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Henrik Zeberg
@HenrikZeberg
Good morning all! 🙂 Morning in Copenhagen - listening to Ludovico while I'm updating analyses and family sleeps. Fantastic piece of music: #AllisGood
Time for some #HZupdates. Let's take a look at the market from the way I see it. Where is that deflation, I have been forecasting? Did CBs succeed to do their magic and eliminate that threat? What about the Kondratiev's winter - over/done? Stay tuned! 🙂
AUDUSD is inflation gauge. Rally=inflation up; Decline=inflation down. LT perspective looks like this. Decline in 2008 = wave A. Rally up to 2011 = wave B. We have since been in wave C. Wave 5 will take us to ~0.5. Note the horizontal line. When this goes -->free fall #HZupdates
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Henrik Zeberg
@HenrikZeberg
Hi all 😀Great week in the market. Coming weeks will be very interesting - but likely decieving imo. Rally/drops in one direction only to shift direction again. Ready for some #HZupdates on #SP500, #EURUSD, #Gold, #Bonds etc.? Stay tuned!
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Henrik Zeberg
@HenrikZeberg
Good morning 😀 Another interesting week in the market. Last week, I expected SP500 to set up a relief rally. It did - but what is the outlook ahead? And the Euro....everybody was so bearish the Euro this week. What happens next? Ready for some #HZupdates?
#SP500 the big picture, I think we have the beginning of a major Bear market. We have 5 waves up since 2009 - and this is a major 5(red) top. Hence, the correction is on the entire structure. Will unfold in 3 waves (ABC). Three possible target areas. #HZupdates
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Santiago Capital
@SantiagoAuFund
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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