Whale Reenters Gold Market Amid Price Decline

A significant investor has reentered the gold market as prices continue to decline to around $4,500 per ounce. According to BlockBeats, the investor has opened a long position on the xyz:GOLD contract with a 10x leverage, at an average price of $4,538 and a liquidation price of $4,185. Last weekend, the investor closed all positions in PAXG and xyz:GOLD, realizing a profit of approximately $650,000. The investor's address also holds a long position in xyz:COPPER, with a position size of about $1.12 million, currently showing an unrealized loss of $105,000 (-77%). Additionally, there is a long position in xyz:TSLA, with a position size of approximately $880,000, showing an unrealized loss of $60,000 (-37%). The account is known for heavily investing in gold and silver, previously doubling an investment of $1 million in precious metals. The investor's strategy leans towards medium-term holdings with a bullish outlook on precious metal assets.