While investors look for gold and bonds as a response to falling equities, they're actually just trying to find 'safety'. That doesn't tell anything about which

While investors look for gold and bonds as a response to falling equities, they're actually just trying to find 'safety'. That doesn't tell anything about which asset they'll necessarily choose. Take the EM crisis we've been experiencing. Yes, everything going downhill, but many EM investors bought USD as a 'response'. If USD has problems, maybe certain commodities go up. It's hard to tell.