Seems to be a real FOMO desperation effort to get onboard happening, page-51

Traders were so illiquid over the last two days that they had to sell gold to raise cash, or trading desks would have stopped working.

"Over the last few days, Treasury market liquidity was strained as a rise in broader market volatility prompted a wave of sales in off-the-run Treasury bonds. These sales were largely driven by investors who use leverage in an effort to amplify the returns of arbitraging the yield spread between Treasury bond yields and other market instruments, including Treasury futures. This wave of sales coupled with general investor outflows from fixed income markets forced the system to absorb a significant amount of bonds in a matter of days."​

Basically hedge funds were forced to liquidate and traders could not cope.​

Hedge funds are holding 200 bil in very leveraged positions in the treasury market.
FED had to pump 1.5 tril at the issue, in repo funding to stop the lack of liquidity.

That explains the very strange behaviour of the gold price and should be short lived.
The Friday rally saw basically the return of liquidity, hence the move nearly 10 % erasing almost all loss from the prior day.

Gold is set up for a snap rally up.
watch out for ALK to react accordingly or even to anticipate this,

all IMO