It seems to me that you have formed a not entirely correct question, gold is precious metal, and bitcoin is a digital currency and only because of this, bitcoin will not be able to replace gold, because at least from Bitcoin you can’t make a bracelet, watch, jewelry, but from gold to make a Bitcoin coin is completely real, with a couar code on it or a private key to this Bitcoin.
both have their own investment channels, bitcoin has a network in the crypto world and until now it can still be used for payments and the price is not stable suitable for short-term investments. while gold is a precious metal that is more widely used for long-term investment. both have their respective advantages in place