Gold to 600 $?

[JuliaCobb]

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[Mauser]

I see a huge extended m-pattern in the gold chart.
Do you think Gold will go to 600 $ in a few years,
because of Bitcoin and Ethereum?

No way, gold down to 600 USD seems very unrealistic in my opinion. While cryptos have some advantage over gold and are in direct competition, there are still a lot of I investors who are interested in gold. I know some older investors who are afraid of crypto currencies, but they love gold. If gold would drop down to 1000 USD there would be plenty of buyers completely buying the market. I think 1000 USD is the lowest we could see.

[SultanNasirUddin]

Gold

[Tash]

I expect a stagnation and then a slow and
steady decrease to 600 $ within 10-15 years.

Exactly, it is outdated dumped all of it long time ago.
The days of finger-thick gold chains as fashion have past.
The chemical resistance property is on the way down as modern cheaper materials are used.
The inflationary hedge is no longer relevant.
Storage safes deposit boxes cost money and not all that save.
Transport is cumbersome and the amount the semiconductor industry uses is minimal.
Counterfeits and fake bars/coins are the final nail in the coffin.

[sonmezmstf1978]

I see a huge extended m-pattern in the gold chart.
Do you think Gold will go to 600 $ in a few years,
because of Bitcoin and Ethereum?

Cryptocurrency can be defined as a digital asset and a virtual element, designed as an alternative means of exchange to cash in terms of the way it works, securing transactions made using encryption (cryptography). Looking around the world, there are Bitcoin, Ethereum, Bitcoin Cash, Ripple, Litecoin, Cardano, Nem, Iota, Stellar, Dash and many more cryptocurrencies. Today, the most famous among cryptocurrencies is Bitcoin, which is the most preferred in the world in terms of transaction volume and constitutes approximately 50% of the crypto money volume. Bitcoin, which was created by a person or community named Satoshi Nakatomo in 2008 and the first transfer was made in 2009, is a digital currency created in the digital environment. The aim of this study is to investigate the relationship between Bitcoin, a crypto currency, and gold ounce prices and dollar index. In the study, the years between 2012 and 2019 were determined as the period and monthly data were examined. The ARDL Bounds test approach was used as a method to determine the cointegration relationship between the examined variables. As a result of the study, a long-term cointegrated relationship was determined between the gold and foreign exchange price of Bitcoin. With this result, a 1% increase in the gold ounce price in the long term will increase Bitcoin prices by about 15%; He states that a 1-unit increase in the USD index will increase Bitcoin prices by about 0.28%. However, it was concluded that there is no cointegrated relationship between the variables in the short run.

I have such a resource, I hope it was useful for the problem.

[jrrsparkles]

I see a huge m-pattern in the chart, could head to 600 $ or 800 $ in the next 10-15 years.
The chart doesn´t look like to me that gold will go up.
My intention says it will very likely go to 800 $ or 600 $.
This is why I sold my gold and converted it to Bitcoin.



Source: https://goldprice.org/

As mentioned above if the asteroid mining begins the price of gold will drop due to the increase in demand but again with the Help of inflation the price won't drop that much and with the current growth the price of gold is expected to double in the next 5 to 10 years.