Gold to 600 $?

[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.

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[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Exactly, it is outdated dumped all of it long time ago.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.

[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.