Gold retains its value either way.
The true believers in this fiction will be the hardest hit.
As long as we are talking value and not nominal price.
If we go into a deflationary spiral, the nominal price of everything declines. The value of the asset—how many widgets per dollar—will retain its value greater than any fiat based asset.
Hyperinflation is a no brainer.
Value is critical. Price is not.