Abraxas Capital has increased its short position on GOLD by $4 million, bringing its total exposure to $21.2 million, according to Hyperinsight monitoring. The firm rolled over its GOLD short position multiple times, resulting in a 5x leveraged position with an average holding price now at $4,796. With the current GOLD price at $4,587, Abraxas Capital's unrealized profit stands at approximately $980,000, reflecting a 12% return rate. The firm strategically increased its stake when GOLD was priced around $4,850, effectively timing the market's peak downturn. Additionally, Abraxas Capital maintains a $25 million short position in BRENTOIL, with an unrealized profit of $2.95 million.