gold is still preferable to bitcoin if that happens.
I watch gold every day so right now it is suffering, its a long term asset not short term perfect protection and little people on the street will want something a little more liquid. Its going to take a bit of skill to play gold and the spreads will kill most people jumping in and out of it. Nothing wrong with mixing the two as they do different things and imo gold appreciates on a decade long stride.
So just observing dollar index today, its a slight fall but only within wednesday pricing which is minor. I think we're probably more stable till monday even tuesday.
Gold is still suffering less than silver. People who bought it could have done worse.
The real winners are always those who sell gold or silver like Peter Schiff and make money on small margins. For this reason buying into gold hype when markets were hit by covid news was a bad idea despite all the schilling Peter did at that time.
I think that the biggest factor is not the price of USD but the S&P500. If stocks go up this year Bitcoin will follow.
Gold is not good because of short or quick profits, it is not actually even for profits, it is there because when one nation loses its fiats value, other nations are still giving around the same value to gold, it is a global thing, so that nation that had devaluation will suddenly have gold so much more high. It is not a worldwide investment to make forever, it is a prevention of losing your wealth.
If you have all your investments in gold, your nation can suddenly become like Venezuela but since you have gold, you can go to USA or wherever and sell all your gold and still would be rich, nobody can stop you from doing that. This is why people call bitcoin digital gold as well, your nation can be good or bad but bitcoin is global so your nations movements wouldn't affect it.
Gold is a bit better not because price movements but because of volatility, gold may have some volatile days but mostly it is a dormant investment, and it is historically tied to value of fiat which means if the stock market goes down or fiat devalues gold prices will skyrocket. Look at bitcoin during the same time, it did moved WITH and not against them so it is not really that good of an investment.
Gold is great for bad days, if you think bad days are waiting for us ahead you should have gold, but bitcoin is good for good days, if you think future is brighter you should get bitcoin because it moves up faster than anything else. So, they are both the same but also very different, you should make that decision depending on what you believe will happen in the future.
