Despite massive outflows (-$8.1B YTD, first annual withdrawal since 2023), author sees contrarian setup for short squeeze. Current price $396.55 up 2.59% today. Recent news mentions 'Gold Jumps as Benchmark Debate Builds' and geopolitical developments (U.S.-Iran deal, Hormuz reopening) that could shift sentiment. The bullish thesis rests on contrarian positioning (extreme outflows creating potential reversal), though it's speculative rather than based on fundamental catalysts. Medium confidence given it's a positioning-based call with some geopolitical backdrop, but lacks concrete fundamental drivers beyond flow data.
