My economy Predicrions are true!! Gold is trash

[btcltcdigger]

Like any commodity, gold is following the global economic trends.
Yes, because of all the BS about COVID-19 it's down, but so is almost everything else.

As soon as the dust settles down, it'll go up above $1300/oz

[awik p]

but it seems like there are still many people who believe in gold, which is currently the price of sudar rally and will break resistance. but if it is not able, then I think price correction will occur. or even the bearish trend will continue. it depends on the level of trust of people to invest at a price that is considered profitable

[tbterryboy]

If you think gold is trash you should stop investing in it and focus on what you like. It’s not a must that you will invest your money in gold, that’s why there are lots of other assets and stocks like silver, Bitcoin, bonds and a lot of them.

Yesterday someone also said that Bitcoin is trash because of the price that kept decreasing recently, and I can tell that most of the markets decreased as at around this time. There is really nothing like a safe haven, there is a time that what you feel is a safe haven can turn out to fall. No asset/stocks goes up forever, there are time that their price can fall and there are also times they can go up.

[Oceat]

Just because it dropped it doesn't mean it will not gonna rise again. Most of the market is just like that rising and falling and I'm sure there is some reason why it suddenly dropped like that. Bitcoin did dropped like that before but look at it now where it is heading, although the difference is very high but it still standing just because there are people who supported it.

[Ozero]

I’m ready to accept any amount of this garbage from you, I’m completely ready to cover the cost of transporting it to me. Then it turns out that you can call anything whatever rubbish, real estate, stocks, cryptocurrencies, absolutely everything that could decline.

Very smart message. I was just looking through the posts in this thread, intending to write similar in content. Whoever considers gold to be garbage, dispose of it by handing it over to those who do not consider it like that.
Some fluctuations in gold prices occur periodically, but it was, is and will be an almost eternal value. Of course, in the future it will be possible to "catch" in space a gold asteroid of several tens of millions of tons and this will collapse the gold rate, but this may not be soon.

[best2015]

I’m ready to accept any amount of this garbage from you, I’m completely ready to cover the cost of transporting it to me. Then it turns out that you can call anything whatever rubbish, real estate, stocks, cryptocurrencies, absolutely everything that could decline.

Very smart message. I was just looking through the posts in this thread, intending to write similar in content. Whoever considers gold to be garbage, dispose of it by handing it over to those who do not consider it like that.
Some fluctuations in gold prices occur periodically, but it was, is and will be an almost eternal value. Of course, in the future it will be possible to "catch" in space a gold asteroid of several tens of millions of tons and this will collapse the gold rate, but this may not be soon.

But the gold itself can lose any real use case in nearest future and then any moment people can drop away gold they've had for centuries, because no one will value it anymore

[criza]

Assets alike from gold can indeed rise and fall anytime but, this doesn't mean it would disappear in the market. This could only be a normal because, they are only being affected in the current events happening around the globe. Its value is decreasing but, you still should not say it is a trash, someday there is still the potential that it will make a comeback like Bitcoin and other crypto assets.

[michellee]

Gold can go up and down, but the volatility is not like bitcoin. If this day gold is down, in the other days, gold can go up again. People still like to use gold as the investment, and only some of them use bitcoin because they don't know bitcoin, and they only know gold for the investment. Besides that, bitcoin still volatile this day, and that makes some people afraid to invest in bitcoin. I don't know if gold can lose value in the future because we cannot predict the future, and it is better to do something from now on so that can give us more chance to get the benefit to us.

[coolcoinz]

Gold falls down. Bitcoin did the same during this week. So what is a safe haven in this case?

If you're looking for a short-term safe haven, the best idea is to exit to fiat for a while and this is what people are doing. Currencies are much less volatile than investments at this time.
If you want a long-term safe haven just hold Bitcoin. Two more months and we'll have a halving which regardless of the state of traditional markets will be a bullish thing for Bitcoin.
Personally, I'm going to hold my BTC, just like I did at 3k and at 10k.

[Vispilio]

Precious metals with traditional money like properties like Gold & Silver are under extreme pressure by large investment banks shorting them with derivatives at a far greater magnitude than the world production of these commodities to artificially prop the value of fiat money...

This has been going on for years; having said that, Bitcoin's function as "digital gold" has also come into question as it has proven to be still very fragile against a macro economic meltdown of traditional financial systems so far this year, although I predict BTC price will recover through the year regardless of how the current crisis plays out...

[mu_enrico]

This thread
The gold price has been bullish since mid-December 2019 dude. Anyway, I don't think Bitcoin is the digital gold (yet) because the volatility is way higher than physical gold.

Regarding the OP statement, many pieces of research found gold is a safe-haven or a hedge:
https://sci-hub.tw/10.1016/j.jbankfin.2009.12.008
https://sci-hub.tw/10.1111/j.1540-6288.2010.00244.x
just google

[Stedsm]

Literally? Gold is bullshit? You know, I've always been against Gold whenever it was compared to BTC but never said nor thought that Gold is rubbish, it has a value (can't be a store of value at least for me, but it really has a value and it can be touched as well ). Lemme stop the BTCvsGOLD here and come straight to the point, the truth is, all such future predictions from anyone in this world about anything ARE ALL BULLSHIT. And trust me, this is not just about you alone but even mine, others and everybody. Nobody can be fucking accurate in terms of predicting things especially when it comes to predicting values of an asset like BTC or Gold.

[imstillthebest]

lol wtf ? if gold is trash , you think cryptos are not  ? well yes not really    .

its still not right to call gold a trash just because it fell down an you invested on  it or you might not be investing on it and your only a hater   . gold imo is gold ? ( literally ) because its too valueable . and i think gold are more important than on crypto     .   its normal for gold to drop too like anything else on this planet do also drop thier value but gold can easily came back due to its worth  .

[btcltcdigger]

I'd bet that 99.99% of people, if presented with 1BTC or equivalent worth of gold, would take gold.
It's been the main source of value for the last 5000 years, throughout every continent and every civilisation.

It's not trash. It's shiny

[hahay]

Then, what will you do after knowing that gold is rubbish, while on the other hand there are still many people who believe gold is a very valuable investment asset and in fact there have been many other experiments in the form of goods to food that places gold in it so that the selling value generated very high. This is the rise and fall of prices and I think any investment asset that exists, at least it will definitely experience this fluctuation and I think it is something normal because after all, there will be a time for prices to rise again.

[Polo7]

I Tell you guys Secret!!


Best assets are  ethereum and USA dollar!!
Anything Else is a gamble!!

[20kevin20]

I Tell you guys Secret!!


Best assets are  ethereum and USA dollar!!
Anything Else is a gamble!!

USD is the worst thing you can invest your money into. It's worse than gambling: you just know you'll most likely lose more purchasing power the more you hold it. If you want to have "the best" asset, look for scarce ones. Not for a crappy fiat that could double its total supply thanks to the existence of printers.

[slashz9]

Pictures sources: https://www.gold.co.uk/gold-price/

It is true that the Gold price is decreasing but I assume it will rise up again in the near future. It is not the first time that the Gold declined in price, and it didn't happen in the Gold only. Look at the decline in crypto coins and others, they also experienced it. So, it doesn't make sense if you call it "trash". It has value even if it is decreasing much. And it is also a proven asset for years. Because of this fact, I feel a bit strange to see you judging it as "trash".

it only dropped by 4% and the OP said gold is rubbish, how could that be true.
while bitcoin and other alt are down more than 10%, and does he consider gold worse?
I think this is a little wrong, because almost all commodity prices have fallen, not just gold.

[senin]

As I predicted 2019 that Gold will fall down Yes! ;

And Yes I was right!!

According to my economy analyze Gold is trash!!
Gold will fall like heavy rock!!




Gold is trash!!  Rubbish!!

Very interesting reasoning. I want more trash like gold. Due to the spread of the coronavirus, all traditional markets as well as the cryptocurrency market have fallen. Is it still rubbish? It is hardly worth arguing in the same direction. In general, even the economies of all states are now falling and a real threat of a global economic crisis is looming. This is a general misfortune and its consequences are temporary. After some time, the coronavirus will be defeated and all markets, as well as gold, will rise again in price.

[tvplus006]

it only dropped by 4% and the OP said gold is rubbish, how could that be true.
while bitcoin and other alt are down more than 10%, and does he consider gold worse?
I think this is a little wrong, because almost all commodity prices have fallen, not just gold.

Gold cannot be considered as a short- term investment. We should not forget that over the past 20 years, the price of gold has increased 6 times. This is certainly less than the growth of bitcoin, but much more than you can get from a Bank for a Deposit placed there.