If all goes to hell, bullion is what you want to hold. Stocks are paper after all and with initial market crash I would be surprised not to see everything get beaten up including PMs even as gold moves higher. JMO
a few years into the great depression they made it a crime to hold gold bullion or coins, with a $10k fine and prison terms possible... but they did not act against gold and silver stocks, so Homestake Mining Co.'s stock rose throughout the '30s. they did not close down Wall St or freeze stock trading accounts... what would be the point when the Keynesians always need to have markets open to work their alchemy?