GLD is getting redeemed for physical gold. That's what happens when too many holders sell. The authorized parties take the buy side of the trade. Simultaneously they sell physical gold. Then they go to State Street for physical bullion and deliver it to buying party. If state street doesn't have bullion to deliver, there's hell to pay. They have to have bullion to back gld or above fails.
If eveyone sold GLD at once, price of bullion would collapse to $300. All that bullion hitting market at once, price would collapse
I would make lots of money thank you