I've been through the 87 crash, and 2008, over weight gold shares both times. In 87, that day, gold shot up from about 480 to 500 and I thought I was safe until I rang my broker (yes, telephones in those days) and found gold shares had fallen along with the rest of the market. Panic is panic, and everything goes. Then in 2008, same thing ... gold company stocks fell in the panic, and gold rapidly followed as people liquidated everything to pay margin calls.
Put simply, I don't think you can depend on anything but cash in situations like that. For sure, gold might go up, but it doesn't necessarily follow that Gold stocks will follow ...not immediately anyway. But then, during the 20's crash, gold stocks DID go through the roof ... (
https://www.gold-eagle.com/article/gold-stocks-and-great-crash-1929-revisited-0) So ... who can tell.
If there IS a crash, I personally think everything will be on the table, including cash. So hard physical gold will probably be the only dependable asset worth owning ...
Good luck when it hits.
And it will.
(20min delay)