NO. what we're looking at is Phase 2 of the same story which will be worse and much more brutal to everything including gold.
The influence the US wields in the global arena has diminished. It has become much more difficult to manipulate circumstances for its own benefit.
Precious metals downside is limited. Imminent re-inflation efforts, whether publicized or surreptitious, will continue propping up equities at the expense of the dollar.