Gold Prices Drop 6.3%, Retail Investors Buy the Dip in Largest Crash Since 2013

Gold prices plunged 6.3% on October 21, marking the largest single-day drop since 2013, according to TechFlow. The sharp decline spurred a wave of bottom buying among retail investors worldwide, as traders viewed the move as a healthy correction within a longer-term bull market.Retail Investors Rush to Buy the DipGold dealers in Singapore and the United States reported a notable uptick in bargain-hunting activity following the sell-off.Analysts widely interpret the correction as technical in nature, rather than a fundamental shift in sentiment.“While the pullback looks severe, it’s a typical recalibration during an overextended rally,” one Singapore-based dealer told TechFlow.Analysts See Rotation Opportunities AheadBank of America strategist Michael Hartnett commented that the previous rally’s “currency devaluation” narrative appears uncertain, noting that U.S. Treasury yields remain below 4%, the U.S. budget is in surplus, and the U.S. dollar index has yet to hit new lows.Meanwhile, BiyaPay analysts advised investors to focus on rotation opportunities across gold, digital assets, and other risk markets, suggesting that shifts in macro sentiment could favor a diversified strategy.The platform also noted increased trading activity in zero-fee digital currency markets, as investors explore USDT-based exposure to U.S. and Hong Kong equities and futures.