Why did gold drop more than 20% from last week’s record?

A fast reversal often stems from profit-taking, stronger US dollar moves, and shifts in interest rate expectations. When leveraged longs unwind, selling can snowball. Algorithmic and CTA flows can add momentum. The resulting air-pocket is painful but can reset positioning for the next move.

Are bank bullion bars pricier than dealer bars in Singapore?

Premiums and buy-back spreads differ by brand, size, and channel. Banks may charge slightly higher premiums for convenience and trust, while dealers can be sharper on price but vary by stock. Always compare live quotes, spreads, and availability before joining lines or placing orders.

How should I build a position after a gold price plunge?

Consider dollar-cost averaging to spread entry risk. Decide a target allocation, split purchases over weeks, and avoid using leverage for physical bullion. Track premiums, delivery times, and spreads. This way, Singaporeans buying gold dip can manage timing risk while maintaining discipline.

Does the Deutsche Bank gold forecast matter for retail buyers?

It provides a reference point for long-term expectations. A $6,000/oz 2026 target can justify buying dips, but it is not a guarantee. Blend such views with your risk profile, cash flow needs, and time horizon, and always keep position sizing and stop-loss rules in place.

Global Market Insights

XAUUSD Today, February 03: Singapore Dip-Buying Surges After Rout

ByDanny Kontos February 3, 2026

Singaporeans buying gold dip surged today after a sharp gold price plunge of over 20% from last week’s record. Spot XAUUSD hovered near $4,400 per ounce on Feb 2, drawing lines at bank branches and dealers across the island. We see UOB gold queues and reports of PAMP bar sell-outs as signs of strong retail demand. With Deutsche Bank gold forecast calling for $6,000 by 2026, many investors in Singapore are treating volatility as opportunity and positioning for a possible rebound.