- Buy Crypto
- Markets
Futures- Spot
- Copy Trade
- Earn
- More
Spot Gold Plunges 6%, Marking Largest Drop in Over 12 Years; Analysts Warn of Bubble Risk
BlockBeats News, October 21st, according to the Financial Times, on Tuesday, the price of gold plunged by 6%, marking the largest single-day drop since April 2013. The current historic rally in the price of gold took a temporary hiatus as the Indian Diwali festival gold buying season came to an end.
After reaching a high of $4,381 per ounce on Monday, the price of gold plummeted to $4,082 on Tuesday, with the market widely seeing this as a belated correction. The historic rally this year has accelerated in recent weeks, with a 25% increase in just the past two months.
Nicky Shiels, Metal Strategy Director at MKS PAMP SA, stated: "The market has shown signs of a bubble, with the main catalyst being extreme overbought conditions—this rally is reaching its peak. The $1,000 surge in six weeks indicates that the price of gold is overly inflated, and we are currently at an irrational high."
Analysts pointed out that the recent rebound of the US dollar and the lack of futures market positioning data due to the US government shutdown collectively contributed to the most severe gold price plunge since 2013.
You may also like
Who is the true winner of the "Tokenization" narrative?
Moss: The Era of AI-Traded by Anyone | Project Introduction
Chip Smuggling Case Exposes Regulatory Loophole | Rewire News Evening Update
How a Structured AI Crypto Trading Bot Won at the WEEX Hackathon
Ritmex demonstrates how disciplined risk control and structured signals can make an AI crypto trading bot more stable and reliable on WEEX, highlighting the importance of combining execution discipline with scalable AI trading systems.
Old Indicator Fails, Three Major New Signals Emerge: BTC True Bottom May Still Be Below $60K
Meeting OpenClaw Founder at a Hackathon: What Else Can Lobsters Do?
Huang Renxun's Latest Podcast Transcript: NVIDIA's Future, Embodied Intelligence and Agent Development, Soaring Demand for Inferencing, and AI's PR Crisis
How a Structured AI Crypto Trading Bot Won at the WEEX Hackathon
Crypto_Trade shows how structured inputs and controlled adaptability can build a more stable and reliable AI crypto trading bot within the WEEX AI Trading Hackathon, highlighting a practical path toward scalable AI trading systems.
AI Starts to Devour the Manufacturing Industry | Rewire News Morning Edition
When Scaling Meets Speed, Ethereum Foundation Introduces "Hardness" to Safeguard the Base Layer
Google, Circle, Stripe Flock Together to Let AI Spend Money: Payment Giants' Joys and Worries in 2026 Q1
$100 Billion Factory Purchase: Bezos and Middle Eastern Capital Shift AI Money from Cloud to Shop Floor
Xiaomi and MiniMax both unleash their ultimate moves, signaling the start of the Agent Pricing War.
Predicting markets has taken the spotlight, but the Perp DEX has been quietly waging war on traditional exchanges.
Is the Market Slump Still Making Millions a Day? Is pump.fun's Revenue Real?
Understanding x402 and MPP in One Article: The Two Paths of Agent Payments
Quick Look at the Latest 18 Graduation Projects from Alliance: Who's the Next Pump.fun?
It's not just the prediction market that profits from the Iraq War
Who is the true winner of the "Tokenization" narrative?
Moss: The Era of AI-Traded by Anyone | Project Introduction
Chip Smuggling Case Exposes Regulatory Loophole | Rewire News Evening Update
How a Structured AI Crypto Trading Bot Won at the WEEX Hackathon
Ritmex demonstrates how disciplined risk control and structured signals can make an AI crypto trading bot more stable and reliable on WEEX, highlighting the importance of combining execution discipline with scalable AI trading systems.
App