Can anyone say why gold (GLD) is dropping so much too? I would've thought it would be a rough inverse of the market. It's still up over the last month (just barely), but down over the past several days.
So they’re selling anything that can be sold to raise the cash to make those interest payments - in a strongly deflationary environment you’d expect $/£/€ to rise against everything, including gold and bitcoin, which is exactly what’s happening.
The point of gold is to have buying power in times where very few have any of it. So liquidate some gold and start buying healthy companies for the cheap.