Gold Price Decline? What’s Causing Gold to Plummet Like a Sh*tcoin on the Solana Network?

Can we please see a crypto surge? In the meantime, precious metals have soared to unprecedented levels lately, and we’re now witnessing a new decline in gold prices. If your technical analysis led you here, what was the purpose of the analysis? You might as well just toss a token.

Spot gold tumbled 6.3% on Tuesday, plunging to approximately $4,090 per ounce, while silver dropped nearly 9%, as traders liquidated their holdings following technical signals that suggested the rally was excessive and too rapid.

So, what’s happening with gold, and does this indicate a larger trend towards a global economic downturn?

Gold Price Decline? Profit-Taking Concludes a Historic Bullion Climb

I apologize, but I sold when I realized that aside from coins, bullion, and jewelry, there’s little practical application for gold in today’s world. Perhaps for false teeth?

• Gold crashes by 5% in one day
• Can’t even buy coffee with it

What’s the rationale behind this again? It’s evidently not a storage of value or a currency.

“A drop exceeding 5% is uncommon,” stated Alexander Stahel, a Swiss resources crypto holder. “In theory, it would occur once in hundreds of thousands of trading days.”

BREAKING: Spot gold prices extend their decrease to over -6% for the day, now on course for the most significant daily dip since April 2013.

The long-awaited gold pullback has finally taken place. pic.twitter.com/xPEKXvF2Lm

— The Kobeissi Letter (@KobeissiLetter) October 21, 2025

 

99Bitcoins analysts indicate that the latest correction doesn’t signify the end of gold’s rise but is instead a needed adjustment following months of speculative inflation.

Gold Price Technical Analysis and Central Bank Metrics: Is a Recovery Underway?

Gold is holding onto critical price floor around $4,000 – $4,050, a threshold that analysts like gold enthusiast Peter Schiff argue differentiates correction from outright collapse. The RSI remained overbought since early September for gold, and this configuration called for a retreat.

On-chain information from CoinGecko reveals tokenized gold assets dropped 5% across ETH and BNB.

Simultaneously, the dollar’s recovery, fueled by renewed discussions of a US-China trade thaw, put additional strain on gold’s decline.

Citigroup: Gold Remains a Long-Term Investment, But “Overextended”

Citigroup strategists, under the guidance of Charlie Massy-Collier, reduced their optimistic gold stance after Tuesday’s downturn, forecasting a short-term consolidation around $4,000.

“Prices have advanced beyond the debasement narrative,” Citigroup remarked in a report. “Central bank diversification away from the U.S. dollar will eventually resurface as a theme, but currently, there’s no urgency to position for that.”

The conclusion is that gold’s correction appears painful but was necessary. Presently, traders perceive it as a substantial but temporary adjustment, rather than the conclusion of the bull trading market.

EXPLORE: Now That the Price surge is Dead, Will Powell Implement Further Rate Reductions?

Join The 99Bitcoins News Discord Here For The Latest Market Insights

The post Gold Dump? Why Is Gold Dropping Like a Sh*tcoin On The Solana Platform? first appeared on 99Bitcoins.