Gold close to bottoming out?

It would be a safe haven if there is a steep correction in equities

When there is excessive currency volatility, people turn to alternative investments. That's often precious metals or more recently, cryptocurrency. Fear of high inflation also leads investors to precious metals, or cryptocurrency. 

There is plenty of currency volatility at the moment, and the consensus is that it's likely to continue. There are also inflation fears. Metals are up due to rising demand and crude oil is up due to fears of supply disruption as the US looks to sanction Iran.  If the trade war intensifies, there will be a further uptick in global inflation. 

In these circumstances, we’d expect the prices of gold