# CICC

Gold’s Panic Plunge: A 20% Correction, Structural Bull Market Intact — But Don’t Rush to Bottom‑Fish

A panic sell‑off pushed spot gold down roughly 10% intraday to about $4,400/oz, marking a more than 20% decline from recent highs after markets repriced US monetary policy following the nomination of former Fed governor Warsh. While short‑term volatility and technical damage argue against immediate bottom‑fishing, long‑term structural drivers such as central‑bank buying, physical demand and questions about dollar dominance keep a multi‑year bullish case alive.