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Here is the big lie as per Bloomberg

Posted by Richard640 @ 7:00 on February 29, 2020  

Gold is said to have been sold to cover margin calls in other assets

  
Gold Joins the Virus Selloff With Its Biggest Slide Since 2013
By Justina Vasquez and Ranjeetha Pakiam
Bloomberg News
Friday, February 28, 2020
It is an odd moment for gold to be tumbling. One of the oldest and most trusted safe havens in times of crises, gold typically rallies amid nasty stock selloffs like the one that has gripped the world this week.
So its plunge Friday — it fell as much as 5%, the most in almost seven years — caught many traders flat-footed and scrambling for explanations as to what had just happened. The most often heard of them: Gold investors dont want to sell but are forced to cover the losses in other asset classes.
“Its bloodshed,” Commerzbank AG analyst Carsten Fritsch said by phone. “It started with forced selling from equity investors who also sold their gold positions to cover their losses in equities and also to cover margin calls. Gold investors don’t want to sell but are forced to cover the losses in other asset classes.” …

… For the remainder of the report:

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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.