Core Viewpoint - International gold prices experienced a significant drop of over 5% on October 21, marking the largest single-day decline in five years, primarily due to profit-taking by investors and easing concerns over international trade tensions [1] Market Analysis - On the day of the decline, the international spot gold price fell approximately 5.3% to $4,123.85 per ounce, with an intraday drop of 6.3%, the largest in over a decade [1] - Analysts attribute the drop to several factors, including profit-taking after a prolonged rise in gold prices, a recovery in investor risk appetite, and a stronger US dollar reducing the appeal of precious metals [1] - Bloomberg reported that concerns over the historical rise in precious metal prices led to significant sell-offs, marking one of the most severe sell-offs in years [1] Price Trends - Since late August, international gold prices surged from around $3,300 per ounce to over $4,000, driven by geopolitical changes, global economic uncertainty, Federal Reserve rate cuts, and increased gold purchases by central banks [1] - At the beginning of the week, international gold prices reached a record high of $4,381.21 per ounce, with a year-to-date increase of approximately 60% [1] - Analysts believe that the long-term driving factors behind the recent surge in gold prices remain intact, and they expect prices to recover in the coming months [1]