Middle East Conflict Triggers Precious Metals Selloff, Largest On-Chain Winner in This Round Records $6.3 Million Unrealized Gains on Short Position

MarsBitNews · 2026-03-23T05:39:29+00:00

Middle East tensions have triggered massive selloffs in precious metals, with spot gold breaking below $4,350/oz on a short-term basis, marking its largest weekly decline; silver has fallen to $65/oz. The largest on-chain gold short address has accumulated $43.7 million in silver short positions, with floating profits reaching $6.3 million.

MarsBitNews

2026-03-23 05:39:29

Abstract generation in progress

Mars Finance News: On March 23, according to Hyperinsight monitoring, the Middle East situation remains turbulent, leading to a large-scale sell-off of precious metals. Spot gold briefly fell below $4,350 per ounce, down nearly 4% intraday, marking the largest weekly decline since March 1983. Simultaneously, spot silver dropped to $65 per ounce, down over 3% intraday. On Hyperliquid, the “On-Chain Largest Gold Short” (@0xacb@) is now also the largest silver short address, with a total position of $43.7 million, and unrealized profits have increased to $6.3 million. This address previously opened a gold short in early February at an average price of $4,972.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.