My guess: Some major players are selling off metals and moving money into crypto-currencies.
If so, they’d be wise to check out the differences between precious-metals backed crypto (XRP?) versus fiat crypto (BTC). Their entire investment may be at stake.
Gold seems to move with “real” interest rates. If the 10 year is yielding above inflation, gold goes down. If 10 year is below inflation, then 10 year goes up. For whatever reason, the paper gold market believes the Fed when they say inflation is transitory, and couple that with the surge in interest rates on Friday (due to unemployment report) and gold sold to off. I think it’s a buying opportunity myself.