A Predicted Gold Slump Attracts Global Bargain Seekers

Gold prices tumbled by 6.3% this week — the steepest decline since 2013. While market professionals voiced concerns about an “overcrowded trade,” individual investors across Bangkok, Singapore, and the United States rushed to take advantage of the drop. The pullback followed a sharp 30% rally over the past two months, fueled by central bank purchases and strong retail enthusiasm. As images of long lines outside gold shops spread across social media, seasoned traders in the precious metals market grew increasingly uneasy. The question emerged: was this the end of gold’s multiyear uptrend, or merely a temporary dip? In Bangkok’s Chinatown, the country’s main gold trading district, 57-year-old textile worker Sunisa Kodkasorn felt confident in her decision. “Gold is the safest investment,” she said. “We decided to pool our savings and come today because we knew prices had fallen.” She wasn’t alone. From Singapore to the U.S., dealers reported a surge in interest from people eager to buy gold at lower prices. Kodkasorn’s attempt to purchase was halted when the gold bar size she could afford had already sold out. Meanwhile, another kind of gold rush is taking place this weekend in Kyoto, where nearly a thousand professional traders, brokers, and refiners are gathering in Japan’s historic capital for the largest annual precious metals conference.