The gold thread

[_act_]

Meanwhile it seems Bitcoin is not affected at all, it even recorded a new 7 day high of $114k but then retroceded to its previous level of about $111k again.

It's in a kind of sideways, I don't know what's necessary for the price to go clearly up finally.

This was how bitcoin increased to all time high the last time, it went gradually until it got to I think $119000, it is repeating almost the same pattern.

Bitcoin as increased over $116350 as of today but it is $115700 right now. The price is gradually increasing which shows how good bitcoin is. Investors confidence is back again after it fell to almost $100000.

[Taskford]

It looks gold is seeing the first signs of "late rally" profit taking today. It crashed 5% (during some time up to 7% if comparing 24 hs) from ~4320$ to ~4100$. According to some media this may have been one of the largest daily losses in the last 10 years.

...

This doesn't mean the rally is over, but it is a sign that markets are becoming more nervous.

I don't think this shows signs of nervousness. After the rally that began in early September, with exaggerated returns for what is usually the gold market, some consolidation was bound to come. For me, the big question now is, as you suggest, whether this is just a bump in the road or the end of the rally.

Maybe some sentiments are into that situation, but it seems that lots of investors think that they already made enough profit and its time for them to cash out that's why those situation happen.

Somehow that situation is quiet normal and that is common reaction by people. Maybe some got panic especially they see that the market is dumping but for sure lots of gold investor earn huge profit from recent pumps happen to that asset.

Maybe lots of investors do DCA with gold and when they reach that 10 year target those people dump, then this cause the largest losses in 10 years for gold.

[sana54210]

Maybe some sentiments are into that situation, but it seems that lots of investors think that they already made enough profit and its time for them to cash out that's why those situation happen.

Somehow that situation is quiet normal and that is common reaction by people. Maybe some got panic especially they see that the market is dumping but for sure lots of gold investor earn huge profit from recent pumps happen to that asset.

Maybe lots of investors do DCA with gold and when they reach that 10 year target those people dump, then this cause the largest losses in 10 years for gold.

That is how all assets work, if you think that you have made enough profit then you stop and just keep it as it is, there isn't really any reason why you should not be working further with it. I understand the way it's done right now, but gold peaked a lot, so people may start selling, not all has to sell, some may hold or some may even buy, but there will definitely be some people who will sell. So that is why we should be careful about it and not really be wondering why it is not working.

If you really want to make money, getting out of gold and getting into bitcoin isn't a bad idea for now, but honestly if you want to wait until next halving, that is not a bad idea neither, gold should be fine until then.

[Free Market Capitalist]

This was how bitcoin increased to all time high the last time, it went gradually until it got to I think $190000, it is repeating almost the same pattern.

Did you write an extra zero there?

Bitcoin as increased over $116350 as of today but it is $115700 right now. The price is gradually increasing which shows how good bitcoin is. Investors confidence is back again after it fell to almost $100000.

In the end, after that small rise, it has remained at that level. In other words, the price continues to be boring.

What also seems to have stopped is the gold rally, which after reaching an ATH of $4,350 per ounce more than a week ago, has fallen to levels below $4K at the moment.

[_act_]

This was how bitcoin increased to all time high the last time, it went gradually until it got to I think $190000, it is repeating almost the same pattern.

Did you write an extra zero there?

It was a mistake, I wanted to type $119000, before bitcoin later got to all time high, not $190000 which bitcoin has not gotten to before.

Bitcoin as increased over $116350 as of today but it is $115700 right now. The price is gradually increasing which shows how good bitcoin is. Investors confidence is back again after it fell to almost $100000.

In the end, after that small rise, it has remained at that level. In other words, the price continues to be boring.

What also seems to have stopped is the gold rally, which after reaching an ATH of $4,350 per ounce more than a week ago, has fallen to levels below $4K at the moment.

It is good if bitcoin is not falling below $110000, it can indicate another preparation that it will rise above $120000 again. But the market is truly boring right now.

Gold form triple top on a day candle after it has been rising for so long, that indicated bears at work and they showed that they are truly at work.

[bubilas]

Gold has always been an excellent asset, a so-called safe haven for any financial asset, but now, due to such a frantic rise, gold is extremely overvalued, which is a very bad sign for investing in it right now. Yet people continue to buy gold due to the crowd effect, even though it's clearly already being overvalued. After all, it's an asset that has no physical value. It can't be useful in everyday life.

[Free Market Capitalist]

It's time to update this thread because after a small dip, the price of gold has recovered and seems to be heading towards breaking the previous all-time high of  $4,400 per ounce. Quite the opposite of what is happening with Bitcoin.

Congratulations to all the gold bugs, especially Peter Schiff, who is on fire saying that everything except precious metals is a bubble that is going to burst, like Bitcoin and AI.

[STT]

If you think gold is overvalued because it rose so much you then have to believe Dollar or other FIAT currency is undervalued and will appreciate.  

 The standard rate should be about 5% when the norm has become 1% and they believe its ok to reduce from its current high rate down to 1% when the economy needs a boost.   That cheap method destroys currency and explains why the gold price is so high now and will continue to be until debt is cleared repaid and rates can move wherever they need to be without creating a threat to government fiscal balance.

If price had risen in isolation I'd agree its massive but comparatively its where it should be.  In the end we'll end up in 5 figures, it will likely only end when big changes are forced by that ongoing failure to balance budgets.

[philipma1957]

It's time to update this thread because after a small dip, the price of gold has recovered and seems to be heading towards breaking the previous all-time high of $3,500 per ounce. Quite the opposite of what is happening with Bitcoin.

Congratulations to all the gold bugs, especially Peter Schiff, who is on fire saying that everything except precious metals is a bubble that is going to burst, like Bitcoin and AI.

What the fuck are you talking about.

The ATH for gold is not $3,500.

And it dropped a lot yesterday.

From 4200 to 4080 which is about 3%

In fact silver dropped from 53 to 50 which is 6%

And all of these things happened before you posted.


Yes btc also tanked.

As did the market.

So the dollar had a win

[Plutomanian]

What could be the cause of this? On the one hand, central banks continue to accumulate gold, and, at least for now, they are not accumulating Bitcoin.  is curious, to say the least, because central banks are responsible for ensuring the integrity of fiat currency, and it seems that they are buying gold to protect themselves from the junk they are creating.

I think the primary goal of bitcoin is to aid a free and decentralized form of transaction where we don’t need a third party(bank)mingling and with that, don’t you think we shouldn’t be expecting banks queue into the idea of wanting to buy bitcoin?
Everyone wants to buy gold and I agree with you because  even in a recent discussion with some people, you’ll notice that, a lot of them include buying of gold in their plans if they hit their dream amounts and in the end, you get just very few persons who have the Interest of buying bitcoin.

I sat at some point after realizing how much I would have earned and mad if I have invested in bitcoin in may be 2018 or 2020 and on reading, I think I would made about twice of my invested amount if I had the opportunity to invest back then.

[qurbanshah02]

What the fuck are you talking about.

The ATH for gold is not $3,500.

And it dropped a lot yesterday.

From 4200 to 4080 which is about 3%

In fact silver dropped from 53 to 50 which is 6%

And all of these things happened before you posted.
Yes btc also tanked.

As did the market.

So the dollar had a win

Yes, you are right, this is not the ATH of gold, but the ATH of gold is $4379, which is currently below its new ATH. Everyone has reduced their market everywhere, due to which everyone is wondering what is going on in the world. Bitcoin and other coins and gold and silver are also in short supply, so this is the best opportunity to buy, but it is quite a sensation, there is an atmosphere of its own from all sides. There is more concern when looking at Bitcoin because Bitcoin has gradually gone down and its impact on other coins and gold has also been felt. The dollar is also in its place, so the dollar has not disappointed us and if it increases, it can be quite beneficial.

[Free Market Capitalist]

If you think gold is overvalued because it rose so much you then have to believe Dollar or other FIAT currency is undervalued and will appreciate.  

Who said that? Not me.

What the fuck are you talking about.

The ATH for gold is not $3,500.

Well, I agree on this. I think I was looking inadvertently to the gold/Euro chart when I wrote that post. Fixed.

And it dropped a lot yesterday.

From 4200 to 4080 which is about 3%

In fact silver dropped from 53 to 50 which is 6%

And all of these things happened before you posted.

But don't agree on this because I wasn't referring to just what happened yesterday but what's been happening lately, and I think this chart confirms what I was saying.



Compare to this:

Yes, you are right, this is not the ATH of gold, but the ATH of gold is $4379, which is currently below its new ATH.

Answered above.

[qurbanshah02]

But don't agree on this because I wasn't referring to just what happened yesterday but what's been happening lately, and I think this chart confirms what I was saying.



Compare to this:

Yes, you are right, this is not the ATH of gold, but the ATH of gold is $4379, which is currently below its new ATH.

Answered above.

Yes brother I understand what you are saying actually it is better to talk about the market face to face. When you talk, you do it by looking at it and when someone talks after seeing your post and confirms it, that is also okay. I know the graphs you have shown are okay and before I posted I had seen what the ATH of gold was and your graph also shows it above. In the case of Bitcoin, it is absolutely okay because anyone who talks about it at this time will be accepted because there is a lot of fear at this time which Bitcoin has lowered itself and increased it a lot.

[juttsab@]

Yes brother I understand what you are saying actually it is better to talk about the market face to face. When you talk, you do it by looking at it and when someone talks after seeing your post and confirms it, that is also okay. I know the graphs you have shown are okay and before I posted I had seen what the ATH of gold was and your graph also shows it above. In the case of Bitcoin, it is absolutely okay because anyone who talks about it at this time will be accepted because there is a lot of fear at this time which Bitcoin has lowered itself and increased it a lot.

We are watching a debate on Gold And BTC and we saw good pump in gold market because buyers are more in the market and they want to a Bitcoin at that price and they are big investors and after few months gold price will go down as we sad many times when big investors got opportunity and made decision to sell their gold at high price And we are watching big investors in the market. Gold is high risky market especially when you want to invest online And Bitcoin is one of the safest investment because we saw many millionaires who became millionaire but they invested at a right time and they became rich person by that . People are trading the Bitcoin in the exchanges and we are watched big pump in the market.

[YUriy1991]

We are watching a debate on Gold And BTC and we saw good pump in gold market because buyers are more in the market and they want to a Bitcoin at that price and they are big investors and after few months gold price will go down as we sad many times when big investors got opportunity and made decision to sell their gold at high price And we are watching big investors in the market. Gold is high risky market especially when you want to invest online And Bitcoin is one of the safest investment because we saw many millionaires who became millionaire but they invested at a right time and they became rich person by that . People are trading the Bitcoin in the exchanges and we are watched big pump in the market.

Currently, gold and Bitcoin are the most sought-after assets. I believe gold is outdated, while in the future, Bitcoin will replace it. Therefore, I completely agree with your opinion that investing in Bitcoin is better. Furthermore, some investors buy large amounts of gold, but only online, not physical gold. In my opinion, instead of choosing online gold assets, it's better to sell the online gold when the price reaches its all-time high and then enter the market. Place your assets on an exchange and buy Bitcoin to replace gold, as gold will lose its value in the future. Bitcoin will become the new gold in the future.

[CryptoBuds]

We are watching a debate on Gold And BTC and we saw good pump in gold market because buyers are more in the market and they want to a Bitcoin at that price and they are big investors and after few months gold price will go down as we sad many times when big investors got opportunity and made decision to sell their gold at high price And we are watching big investors in the market. Gold is high risky market especially when you want to invest online And Bitcoin is one of the safest investment because we saw many millionaires who became millionaire but they invested at a right time and they became rich person by that . People are trading the Bitcoin in the exchanges and we are watched big pump in the market.

Currently, gold and Bitcoin are the most sought-after assets. I believe gold is outdated, while in the future, Bitcoin will replace it. Therefore, I completely agree with your opinion that investing in Bitcoin is better. Furthermore, some investors buy large amounts of gold, but only online, not physical gold. In my opinion, instead of choosing online gold assets, it's better to sell the online gold when the price reaches its all-time high and then enter the market. Place your assets on an exchange and buy Bitcoin to replace gold, as gold will lose its value in the future. Bitcoin will become the new gold in the future.

I know we are on bitcoin forum and we are all bitcoin investors. We always want bitcoin to be the best asset, to be the center of the world more than any other asset. But I think spreading negative or false information about gold or any asset will not make bitcoin the best asset class.

Gold has never been outdated and never will, as evidenced by the fact that gold has been around and sought after by humans for over 5 thousand years before we were born. The demand for it is still very high today and shows no signs of slowing down. It also won't lose its value or appeal in the future just because of the emergence or growth of bitcoin. I bet you on that. Both are different assets, and they will have their own loyal investors.

Just because you don't invest in gold because you think it gives less return than bitcoin, doesn't mean the whole world thinks like you.

[abhiseshakana]

We are watching a debate on Gold And BTC and we saw good pump in gold market because buyers are more in the market and they want to a Bitcoin at that price and they are big investors and after few months gold price will go down as we sad many times when big investors got opportunity and made decision to sell their gold at high price And we are watching big investors in the market. Gold is high risky market especially when you want to invest online And Bitcoin is one of the safest investment because we saw many millionaires who became millionaire but they invested at a right time and they became rich person by that . People are trading the Bitcoin in the exchanges and we are watched big pump in the market.

Currently, gold and Bitcoin are the most sought-after assets. I believe gold is outdated, while in the future, Bitcoin will replace it. Therefore, I completely agree with your opinion that investing in Bitcoin is better. Furthermore, some investors buy large amounts of gold, but only online, not physical gold. In my opinion, instead of choosing online gold assets, it's better to sell the online gold when the price reaches its all-time high and then enter the market. Place your assets on an exchange and buy Bitcoin to replace gold, as gold will lose its value in the future. Bitcoin will become the new gold in the future.

I know we are on bitcoin forum and we are all bitcoin investors. We always want bitcoin to be the best asset, to be the center of the world more than any other asset. But I think spreading negative or false information about gold or any asset will not make bitcoin the best asset class.

Gold has never been outdated and never will, as evidenced by the fact that gold has been around and sought after by humans for over 5 thousand years before we were born. The demand for it is still very high today and shows no signs of slowing down. It also won't lose its value or appeal in the future just because of the emergence or growth of bitcoin. I bet you on that. Both are different assets, and they will have their own loyal investors.

Just because you don't invest in gold because you think it gives less return than bitcoin, doesn't mean the whole world thinks like you.

Thank you for your understanding of the market reality: Gold is an asset of multi-generational trust and stability, while Bitcoin is a technological monetary innovation. The two don't undermine each other, but rather, are stores of value across two generations. Gold is an asset trusted by the state and the older generation, while Bitcoin is an asset trusted by the younger generation, the tech sector, and investors who avoid government control.

Many people don't understand that Bitcoin and gold are assets with different functions in the global financial ecosystem.

• Gold is a stability asset used by central banks, government institutions, and treasuries. It has low volatility, making it suitable for long-term hedging. Demand ranges from jewelry, industry, and monetary reserves.
  
• Bitcoin is a high-conviction growth asset, volatile in nature but with significantly greater potential returns. It is digital, portable, and censorship-resistant, and is used by the younger generation, technology, and non-conventional investors.

Why choose one when we can have both in our portfolio? In fact, their combination provides portfolio stability during geopolitical crises and significant growth during bull cycles because the shocks are often different. The wise can see that gold didn't disappear because Bitcoin emerged, and Bitcoin didn't stop growing just because gold remained strong. With this perspective, we can appreciate the advantages of each without spreading misinformation or overclaiming the potential of one asset.

@juttsab@ It's true that the gold market often experiences profit-taking after significant gains, especially when institutions see liquidity opportunities. Are you sure gold is a high-risk market? Historically, it has had much lower volatility than Bitcoin, is used as a traditional hedge against geopolitical crises and inflation, and has a very deep market with global liquidity. Bitcoin does offer higher returns, but also carries greater risks. Although many millionaires have been created, many have also lost money due to a lack of understanding of Bitcoin's supply-cycle volatility. Therefore, Bitcoin is a high-return, high-volatility asset, while gold is a low-volatility, long-term stability asset. These two functions are not interchangeable.

@YUriy1991 I think there's a flawed assumption in your thinking

• If gold is outdated, how can we explain the stable, even increasing, global demand (jewelry, industry, central banks)?
• Its 5,000-year record isn't just a number, as the only asset that all religions acceptit's and stronger than any currency. Are you sure it will disappear?
• Bitcoin won't automatically replace gold because they have different adoption mechanisms and markets. As a store of value, Bitcoin has a low correlation with gold, a monetary metal, and it's used for different purposes.

[d5000]

Gold has never been outdated and never will, as evidenced by the fact that gold has been around and sought after by humans for over 5 thousand years before we were born.

That is no evidence at all. It is only re-stating the fact that "there was historically high demand for gold".

Gold isn't even an asset that was valued universally by all cultures. The Mayas for example valued it much lower than their neighbors, the Aztecs, and of course European cultures. Eurocentrism is basically the reason why gold is now an important asset around the world.

If central banks sold all their gold, gold would be basically worthless (in comparison to today). It would crash to its industrial value. And many people would panic sell their jewelry too in such a crash.

It also won't lose its value or appeal in the future just because of the emergence or growth of bitcoin.

And that brings us to an interesting scenario, although it may be utopian, it's worthy to imagine it at least:

What would happen to gold if Central Banks become obsolete due to a Bitcoin Standard?

If Central Banks cease to exist, they won't need gold anymore, and thus an enormous amount of gold would flood the market. The consequences would be what I detailed above.

My conclusion is: Gold may be a safe asset for centuries more. But there are realistic scenarios with a certain likelihood, also involving Bitcoin, where it could be valued much lower than today.

[Free Market Capitalist]

My conclusion is: Gold may be a safe asset for centuries more. But there are realistic scenarios with a certain likelihood, also involving Bitcoin, where it could be valued much lower than today.

I basically agree with you. I think we can say that gold will be a safe asset for decades more. If certain central banks have been buying gold as if there were no tomorrow, it is unlikely that they will start selling like crazy in a decade's time. In the longer term, who knows?

It's funny that if you had asked me a year ago, I would have considered it more likely that central banks would start replacing gold with Bitcoin, but given what has happened this year, it looks like if it does happen, it will take time.

The price of gold seems to be attempting to reach new highs again, by the way.

[red4slash]

I know we are on bitcoin forum and we are all bitcoin investors. We always want bitcoin to be the best asset, to be the center of the world more than any other asset. But I think spreading negative or false information about gold or any asset will not make bitcoin the best asset class.

We don't need to be naive and resemble the rulers just because we want to achieve what we want to achieve because in the end making one the best by making negative news about the other is clearly not a healthy condition and this will not have any impact on bitcoin.

We are not competing or claiming overall which is better between gold and bitcoin but we just need to believe that our choice is very appropriate and it is just a reminder for ourselves. All have their own enthusiasts regardless of gold or bitcoin are all the same and we as someone who can only make this an opportunity in the end only have to see what is best for ourselves as long as it is profitable for us then do not need to find fault with one of them just because we want to think that our choice is the most correct.