GLD short interest jumps 80% and GDX rises 50% per S3 data, pushing both toward Bitcoin doghouse after rough year.

According to @KobeissiLetter, US gold-backed ETF holdings have experienced a significant decline, dropping by 30 tonnes this week to 3,077 tonnes. This marks the third consecutive weekly decrease, with a cumulative drop of 62 tonnes over the past three weeks, effectively erasing all gains since the beginning of 2026. The report highlights the performance of the largest gold-backed ETF, $GLD, as a focal point for market analysis.

According to @KobeissiLetter, the four largest gold-backed ETFs in China posted $980 million in outflows on Tuesday, marking the biggest daily withdrawal on record and 2.5 times the previous record set in May 2025, Source: @KobeissiLetter. The report adds this followed $317 million in outflows on Monday, underscoring an unusually large two-day redemption wave in Chinese gold-backed ETFs, Source: @KobeissiLetter. For trading desks, these record-breaking redemptions indicate concentrated selling pressure in local bullion vehicles and a swift reduction in gold exposure among Chinese investors, Source: @KobeissiLetter.