Trader 'Bullish on Precious Metals' Reopens Gold Position After Previous Profit-Taking

Gold Attracts Bullish Re-Entry

According to Coinbob tracking data, as gold prices retreated to around $4,500 per ounce, the 'Bullish on Precious Metals' trader re-entered the market. This time, the trader opened a leveraged long position in xyz:GOLD with 10x leverage, averaging $4,538 per ounce, with a liquidation price at $4,185.

Prior Profit-Taking on Gold Positions

Over the weekend, the trader fully exited both PAXG (on-chain gold) and xyz:GOLD long positions, realizing a profit of approximately $650,000. This move highlights the trader's strong market timing and deep understanding of precious metals markets.

Current Portfolio Overview

In addition to the new gold position, the trader currently holds the following long contracts:

• xyz:COPPER (copper futures mapped contract), with a total exposure of $1.12 million and an unrealized loss of $105,000 (-77%);
• xyz:TSLA (Tesla stock mapped contract), valued at $880,000, showing an unrealized loss of $60,000 (-37%).

Trading Style and Market Outlook

This trader has consistently favored large-sized positions in precious metals, previously doubling his capital from a $1 million starting point. This indicates a strong long-term bullish stance on precious metals and demonstrates a strategy focused on mid-term trend following and market positioning.