Core Viewpoint - The prices of gold and silver have experienced a significant drop due to geopolitical factors and profit-taking by investors, marking the largest single-day decline in over a decade for gold and the largest since 2021 for silver [1][3]. Price Movements - As of October 21, international spot gold prices fell over 6%, dropping below $4100 per ounce, while silver prices fell over 8%, dropping below $48 per ounce [1][3]. - Earlier in the week, gold prices had surged over 2.5%, reaching a historical high of $4381.29 per ounce before the sharp decline [5]. Market Analysis - Since the beginning of the year, gold prices have increased by over 50%, and silver prices have risen nearly 70%, driven by heightened geopolitical tensions that led investors to seek safe-haven assets [3][9]. - Analysts suggest that if market sentiment continues to stabilize, precious metal prices may face further corrections [3]. Domestic Market Impact - Following the spike in gold prices, domestic gold jewelry prices also increased, with notable rises in prices from various brands [6][7]. Future Outlook - HSBC forecasts that gold prices could continue to rise, potentially reaching $5000 per ounce by 2026, driven by strong central bank purchases and ongoing fiscal concerns in the U.S. [10]. - UBS predicts that increasing political and trade uncertainties will continue to support gold prices, with expectations of reaching $4700 per ounce by the first quarter of next year [11].