Loading ...450 tons, or 30,000 contracts short.
This guy also highlights the volatility as being China related – or even China is the direct cause:
https://www.zerohedge.com/news/2026-02-05/chinese-derivatives-tail-waging-precious-metals-dog
“The Chinese market has always been highly speculative and volatile. The problem is, it’s now so large that it dominates and distorts the entire process. The grown-ups in the room (institutional players) soon realise the market feels more like a casino than a marketplace and step aside. Industrials re-double efforts to find substitutes, retail clients burn out, potential jewellery buyers walk away, investors look non-plussed and go elsewhere, while central bankers press the pause button … and before long the bullion trading landscape looks utterly desolate like a moon-scape.
How does this end ? Well eventually the Chinese player driving these price swings discover they’re only talking to themselves… everyone else has gone home
Not helpful — not helpful at all.”