Gold Price Prediction & its impact on cryptocurrencies

[Negotiation]

The price of gold will break $ 321.54 grams and it will not affect crypto backed-gold currencies like the gold stable currency because bitcoin investments are more profitable than gold. Its demand is higher than gold Everyone's opinion is different because the gold market is pumped by different companies It will depend on us for long term investment.

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[davis196]

The gold price will go up,but 10K USD  per troy ounce is a crazy prediction.During the 2007-2011 global financial crisis,the gold prices never reached 10K USD,even though gold is considered to be a safe heaven.
I'm seeing bullish predictions about the gold price every day and none of them happened so far.
All the gold investors are always so hyped up about gold.It's kinda annoying.
Some analyst at Bankbazzar is expecting gold price to reach 5K USD per ounce(28 grams) in 2020.Half of the year is gone.Let's see will this prediction happen until the end of 2020.Highly unlikely,if you ask me.

[TheGreatPython]

It’s only going to affect the gold stablecoin you have mentioned, and has nothing to do with others such as Bitcoin, Ethereum, XRP, etc. These ones are not stablecoins, they are volatile and they are not backed by any of those the community that is backing them. Gold stablecoin will be affected by any move the real gold makes because it’s backed by that. And if the price of gold should increase, then we should get ready to see assets that are backed by it as they increase in worth as well. I don’t invest in gold, so I don’t really follow up with what’s happening with it, I don’t check any updates about it.

But, as gold and bitcoin belongs to same category (alternate instruments against stocks and bonds) for institutional investors, we can assume bitcoin will follow the "trend" of gold. There were times when bitcoin was struggling to surpass one ounce price of gold after beating bitcoiners do never consider gold as a reference, it seems.

[shoreno]

The price of gold will break $ 321.54 grams and it will not affect crypto backed-gold currencies like the gold stable currency because bitcoin investments are more profitable than gold.

i kept on reading it again and again but i dont find the connection of what you have said  .  whats the conection of btc being profitable to the gold ? or you mean to say there is more demand on btc because people think its profitable and that counters the effect of gold to btc if ever there is  .

 gold back cryptos are related to gold ?  if yes then they can be affected majorly    . the effect is good because its an increase on gold so why are all worrying   . 

[ethereumhunter]

With a limit of materials, gold and silver can increase higher. If you want to buy gold right now, you should buy it before the price increase, and you will be too late.

As a stable investment, gold will become something that people will want to buy because they want a safe investment that will not too volatile from time to time.

[webtricks]

gold back cryptos are related to gold ?  if yes then they can be affected majorly    . the effect is good because its an increase on gold so why are all worrying   . 

There have been many crypto projects in past which tried to peg their coin's value to gold but failed. However, Digital Gold or simply GOLD is a project which stood out and successfully created an ecosystem of gold pegged cryptocurrency which is highly liquid and can be used on ETH blockchain for making instant payments or for simply storing value in gold.

GOLD team is providing high liquidity on exchanges so the value of GOLD token is always equal to market price of 1g gold. Hence, it is surely related to gold and you are correct in saying that anticipated increase in prices of gold in upcoming days/months will positively impact the price of GOLD token.

More about GOLD project: https://gold.storage/en/home

[Febo]

World gold is predicted to fly to US $ 10,000 / troy ounce, by Dan Olivier, founder of Myrmikan Capital.

There is zero % chance that ounce of Gold will not be $10000. It is just a mater of time. USD will lose value. And Gold will keep or even gain value. Most likely ounce of gold can be $10000 already in this decade.

[Mauser]

World gold is predicted to fly to US $ 10,000 / troy ounce, by Dan Olivier, founder of Myrmikan Capital.

There is zero % chance that ounce of Gold will not be $10000. It is just a mater of time. USD will lose value. And Gold will keep or even gain value. Most likely ounce of gold can be $10000 already in this decade.

Yeah, gold will rise in the long run for sure. I think in every portfolio there should be some diversification into commodities and crypto currencies. Gold and silver are a good bet. But don't forgot that the gold price is already fairly high at the moment. With all the central banks printing so much money and injecting into the economy, investors don't know where to put all there money. There is no interest on savings and you don't want to put everything into stocks. At the moment we see a high demand for gold.

[FanEagle]

The logic is this; there are stablecoins that are connected to dollars, and there are stable currencies that connected to stuff that is connected to dollars which is a long way of doing it. One example is stable currencies connected to gold, gold is usually connected to dollars.

Now, you can use USDT type of currency which would be directly dollars, or you can find coins that are calculated exactly the same way but for gold. It means your currency value increase over time like gold would increase. However bitcoin is more profitable because many people here think that bitcoin will go up higher than gold would and will be more profitable. Of course, there is no proof of this but there is no proof of anything going up or dow, it is a prediction, just like in all financial predictions.

[Tahsin Kabir Kollol]

I think that Gold's positive predictions will certainly have an impact on cryptocurrencies. Although the price of gold does not fluctuate much, people prefer gold to invest their money for safety. If the price of gold continues to rise at a relatively rapid rate and the above predictions come to fruition, it could have a profound effect on cryptocurrency. Especially those who have not acquired much skill and knowledge about cryptocurrency and have suffered losses in cryptocurrency trading and preservation may turn away from the cryptocurrency. However, it will have little effect on those who are well versed in cryptocurrency and trade it efficiently. Therefore, it can be said that if the gold price prediction comes true, it will have an impact on the cryptocurrency.

[Kakmakr]

Most people refer to Bitcoin as "Digital Gold" but not a lot of investors see it that way. Gold is a better store of value, because it has a lot less price volatility. Bitcoin is still seen as a high risk investment by many and a higher Gold price will just draw in more speculators to Gold.

I think once Gold has reached a peak, some investors might take profits and they might diversify into other so-called safe-havens with higher risk. If many of these Gold investors looked at history, they would reconsider Gold as a true safe-haven, because under current federal law, gold bullion can be confiscated by the federal government in times of national crisis. (Governments can change policies as they want and when they want) 

[songsunling]

https://www.visualcapitalist.com/all-of-the-worlds-money-and-markets-in-one-visualization-2020/

The gold market cap is $10 trillion, and global stock market $100 trillion, money supply $100 trillion.
If us dollar collapsed and 10% money was invested to gold, gold price will go to moon. So do bitcoin.

[Karartma1]

Most people refer to Bitcoin as "Digital Gold" but not a lot of investors see it that way. Gold is a better store of value, because it has a lot less price volatility. Bitcoin is still seen as a high risk investment by many and a higher Gold price will just draw in more speculators to Gold.

I think once Gold has reached a peak, some investors might take profits and they might diversify into other so-called safe-havens with higher risk. If many of these Gold investors looked at history, they would reconsider Gold as a true safe-haven, because under current federal law, gold bullion can be confiscated by the federal government in times of national crisis. (Governments can change policies as they want and when they want) 

Would you rather have a percentage of your wealth in something that is difficult to carry and that can be easily seized off you (GOLD) or would you prefer something that is invisibile, easy to carry and that you can safely hide in any possible place (Bitcoin)? I have personally chosen Bitcoin over gold and I exchanged my previous gold holdings in BTC and tokenized gold (10%).

[Salamstar]

are you sure the price of gold will break $ 321.54 / gram and how will it affect the crypto backed-gold currencies like GOLD stable coin

give your opinion

Investors tend to turn to gold as a safe-haven asset when other financial instruments are unstable, as it is one of the oldest and most valuable assets in the world. Gold continues to attract intense interest to traders and investors today, partly due to its ability to retain its value over time, along with its position. As a relatively safe asset it can act as a hedge against unstable conditions and uncertain financial conditions. So yes, it is possible that the price of gold will reach numbers that we do not expect.

[TheGreatPython]

If a cryptocurrency (stablecoin) is backed by an asset such as gold, they will be moving accordingly. If you’re buying a stablecoin that claims to be backed by gold and precious metals, then you’re basically buying those assets, the tokens/coin you’re buying is like buying a share that gives you a possession that the company that owns the cryptocurrency is selling. That’s how it is, so they are going to be increasing in price when gold is going up.

I have seen a lot of cool gold-backed coins, and there was one I saw that is backed by several precious metals, and it’s really cool. I just have to take my time and look into them before investing.

[Febo]

I have seen a lot of cool gold-backed coins, and there was one I saw that is backed by several precious metals, and it’s really cool. I just have to take my time and look into them before investing.

Why dont you simply buy Gold? You hold gold then without any risk that that company that issued token backed with gold will scam you. You will have Gold in your hands.

[goldade]

Gold is a natural resource that can not be replenished and as such is limited. Gold will continue to increase in price as the population grows based on the law of supply and demand. Therefore, it is only natural that gold-backed cryptocurrencies experience the same increase in price. These crypto are dependent on gold and will increase when gold does and decreases when gold decreases too.

[CarnagexD]

I have seen a lot of cool gold-backed coins, and there was one I saw that is backed by several precious metals, and it’s really cool. I just have to take my time and look into them before investing.

Why dont you simply buy Gold? You hold gold then without any risk that that company that issued token backed with gold will scam you. You will have Gold in your hands.

I was wondering about these 'gold-backed' coins, I never give a damn about it coz I never believe they really have gold to back their coins, I mean if there is then it is a stable coin which is futile to invest into. True, you could have just bought a gold and keep it to yourself, you don't need intermediaries when having gold it is better to have it on your hands. If you want gold in digital form, bitcoin is winking at you right now lol

[mindrust]

Gold had an impressive run. Moving an asset upwards as big as gold is a huge success. I remember not so long ago (few years back) gold's market cap was $7 trillion, what is it now? In March it was ~$9T, it is probably now closer to $10T now.

I'd say It would keep climbing till we go back to normal.*

*By "normal" I mean before Covid19. December 2019 and before. Probably won't happen.

[iyamoxjhian]

its really good to invest on gold nowadays..I am seeing lots of people interested in selling gold but i prefer to buy for my investment..and ofcourse I will continue to do cryptocurrency as this is a good investment too.