that seems to be the case as reported by the media. some call it liquidity squeeze aka cash out and use the funds for something else. However, you might want to pay attention to gold price chart too. It has just completed the 2nd 10 years bull runs. the first one was from 2001 to 2011. Retraced from 2011 to 2016. And 2nd 10 years bull run from 2016 to 2026. There is high probability that we may not see much actions / high returns from gold for the next few years; from the technical chart perspective. just my personal opinions, could be wrong. hope it helps.