“Gold’s Yin To The Stock Market’s Yang” (goldsilver.com/blog/if-the-stock-market-crashes-what-happens-to-gold-and-silver-jeff-clark-senior-precious-metals-analyst/)
❝In most cases, the gold price rose during the biggest stock market crashes… Over the total 18-month stock market selloff, gold rose over 25%… (I)f gold (does) declines during a stock market collapse… history says it might be a great buying opportunity… Silver did not fare so well during stock market crashes… This is likely due to silver’s high industrial use (about 56% of total supply), and that stock market selloffs are usually associated with a poor or deteriorating economy… The reason gold tends to be resilient during stock market crashes is because… when one goes up, the other tends to go down… (S)tocks benefit from economic growth and stability; gold benefits from economic distress and crisis.❞
How’s your financial situation? (Don’t answer, but…)
House paid? Cars? Etc.? (On a related note: Try and keep at least a small collection of gold AND silver; coin or bullion doesn’t seem to matter “too” much, though gold is better for early crisis, silver for later crisis: goldsilver.com/blog/if-the-stock-market-crashes-what-happens-to-gold-and-silver-jeff-clark-senior-precious-metals-analyst/)
How’s your food inventory? Even the feds recommend a 2 week emergency supply. Also, do you live in an area where inclement wx can leave you stranded (flood/snowstorm prone areas)? If so, stockpile explicitly to that possibility.
How about water? Do you have emergency water rations? (Rotate these about once a week; focus on drinking water, and if possible, get buckets to collect grey water for toilets.)
Repair and maintenance tools? Just the basics, hammer, screw driver (¡NOT, a sonic one, though!), maybe a hand saw… The more the better for home and at a safe house, but have only a few in case of evacuation (I hate the term “bug out”).
Speaking of which, how’s your home security? Can any windows be opened QUIETLY at night from the outside? Any alarms? How about fire fighting? Bare-bare minimum, do you have a COUPLE (not just one) fire extinguishers? Does your local terrain require more (in other words, do you live at the wrong end of a forest waiting for a spark to turn it into a blow torch [been there, done that, Dallas OR will someday be “Asheap OR”])?
In the event you need to evacuate, how ready are you? Got someplace to go? How about food, water, etc. for that trip? How far is it, anyways? If you can’t walk that far in a day, you’ll need transport, and assuming you can “just drive it” isn’t a good plan at all. Once you get there, how set are you? Everything mentioned above PLUS potentially a couple months must be accounted for (such as the aforementioned “warehouse worth of power tools of every conceivable type”).
Hey, it’d probably help if I explained what that means…
Gold’s price rises when the economy is bad. Silver’s rises when the economy is bad.
Which way you go is of course up to you.
Having your financial situation “in order” helps you greatly; My biggest mistake was to allow someone other than myself (my now ex-wife) to control my money. I ended up homeless, broke, $40K in debt on student loans (those NEVER go away, btw)- AND she gets child support. (Go. Figure.) So those are things to watch out for.