Every asset including gold sold down in March. There was a liquidity event where cash was needed to cover margin calls. The liquidity event has passed as the Fed has made money easily available. One line from the article piqued my interest ... "And unlike sovereign bonds, gold does not generate any kind of income stream—an added bonus for investors seeking capital preservation. " Sovereign bonds in safe countries are now yielding virtually zero, so these don't generate any kind of income stream anymore either. Sure, there could still be capital gains if interest rates drop even further, but the Fed's current stance is no negative rates.
Cash is "safe", until one realizes that pretty much all governments are pumping out cash like it's no-one's business.