Gold experts have recently started highlighting the performance of gold mining stocks, while $XAU has rebounded to the 4800 level and $XAG has returned to around 80. However, one key thing to watch: in the gold token derivatives market (such as $PAXG or $XAU), we’re already seeing over-concentration on the long side. Historically, this often indicates one-sided crowded positioning in derivatives, which tends to lead to reversals or pullbacks… something we should keep a close eye on. 👀
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