So in a 50% crash would you buy back in? Even if your gold had risen 100%? I expect in that sort of scenario I would sell 30% of my gold stocks and put them back into normal stocks. But then what happens if it falls 90%? You've just lost 75% of what you put in?
I think if you're already a gold stock holder the crash, when it comes, will be difficult to know when to sell. Much like crypto investors now. Many think that the bubble will continue to inflate and so won't sell. It might well do, but it would make sense for them to diversify now into undervalued assets such as gold stocks.