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$XAU vs $XAG
Short sellers are having a pretty good week.
Almost every short on gold and silver is sitting in profit, while longs are getting absolutely crushed.
And here's the problem with trying to catch the bottom: fresh money is still leaning toward selling.
Silver looks more vulnerable to me, while gold is holding up a little better.
I'm bearish on both for now, but I wouldn't get too comfortable opening fresh shorts here. A wave of profit-taking could trigger a nasty bounce.
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