In the last several months, peak short sale volumes on
#PHYS above 1.8M shares have been quite good at predicting corrections, with 4 out of 5 occurrences producing this outcome. 😐
It has not always been like this. We saw even higher peaks in 2023, 2024, and 2025 that did not lead to nasty slams, but this pattern has been occurring consistently since October.
To me, this suggests the pattern has been working because the underlying bid was already fading while
#gold was still climbing toward $5,600. With buying pressure drying up, it has taken far less effort to push the market lower. 🥲
Short sellers have been even more accurate and lethal on
#GLD. ☺️
#PreciousMetals #ShortSale #ETF #Commodities