If the market conditions are so bad, why is gold price also falling in India?

Surprisingly, gold has started falling in India and in global markets and the fall is really sharp. Gold in the Indian markets has shed about Rs.5,900 per 10 gram in 6 sessions, falling from Rs.44,500 levels to Rs.38,700/10 grams. It is ironic because gold is typically viewed as a safe haven in times of turmoil in global financial markets. But the recent sharp fall in gold prices has been attributed to flight for cash as in the mist of the virus syndrome, investors are not even willing to trust gold and they only trust cash. Even in global markets, gold lost more than $250 from its recent peak. It is now boiling down to lack of trust in any asset class.