US Treasuries at the most expensive price point for the past 300 years. That's for you, if you're looking for bubbles.
If: labor + energy to extract gold > gold price
we have a bubble?
;-) LOL
That said, gold's price is determined by supply and demand, just like for any other good. Certainly part of the price is supply, which is determined to some extent by mining costs, but there is also the demand side of the equation. You will find demand for precious metals greatly diminished during a recession or any kind of economic hardship. They are a luxury good. Toilet paper, on the other hand, is an inferior good whose price will not be affected by any economic hardship. In fact, it may even increase during such a crisis.
Buy toilet paper.
So, I'd say, it's more like poor will be using cigarettes, alcohol, etc. to trade just to survive while wealthy will use gold and silver as the currency. Because if you're this guard in Aushwitz, how do you know if Germnay wins the war. Or the US? You don't. That's why you'll prefer currency gold to national currencies.