The Evergrande episode doesn't necessarily mean that gold will reach for the sky.
Let's see what happened in 1998 when the LTCM collapse occurred. It was so serious that it threatened to derail and cause catastrophic losses throughout the financial system. It reached crisis level in Sept 1998 when the Federal Reserve Bank of New York stepped in to stem the contagion.
The gold price went up about $20 and then resumed its decline.
