There were a couple of Safehaven episodes with falling stock markets and rising gold prices.
They usually got really exciting when the stock markets began to bottom (think QE3+).
Look at this innocent Rhyme which resembles today quite a bit. Notice the extrem negative correlation and how it led to a correction of the gold price. The stock market fell some 20%. Eventually stocks started to rise again and took gold with it for the ride ....
.and gold rose and rose....and the rest is history.
Conclusion:
If the stock market falls too far, the ensuing money printing could trigger a replay of the late 70ties.
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