Whale Alert: New Player Opens $5.1M Gold Short Position 📉

A significant short move has just been observed in the commodities market, as an anonymous player bets millions on a decline in Gold prices.

(XAUUSDT)
(PAXGUSDT)

A newly created wallet was instantly funded with a massive $5.1 million. This whale wasted no time, using the entire sum to open a Short position on Gold. 💰

Notably, this large sell order utilized only 1x leverage. This suggests a calculated investment thesis, potentially a hedging move, rather than a high-risk gamble. It indicates strong conviction that Gold prices will trend downwards. 💡

With improving US economic data, could this 'Big Short' signal a significant correction for the precious metal $PAXG? Share your thoughts below! 👇

News is for reference, not investment advice. Please read carefully before making a decision.