The concern I have is that in the event of a crisis, such as an unlikely nuclear strike, or a much more likely market collapse, Gold stocks get pulled down heavily due to investers attempting to liquify all assets. In the lead up to the 87 crash (which was actually in the context of a long term bull market), the Us dollar plunged while Us stock soared as they though it good for the US economy. When bottom lines began to be squeezed because of the US$ drop, the market collapsed. Gold stocks were caught up in this. The 1929 crash was similar for gold stocks. If anyone has better research/info, please post.
