I think Bitcoin will not replace Gold, Gold is real while Bitcoin is Digital, but if it is about price, Bitcoin has defeated Gold ...
bitcoin and gold have more specific characteristics and basically the function is almost the same that is for investment, but there is a difference here people may prefer gold because stored in a long time will be safe and there is a reality. people are more confident with something that looks different from bitcoin that the level of security and risk we do not know and the shape was not visible.
No, i think both have their own characteristics, each is having its own importance. Bitcoin is having characteristics of easy to be used, quick to be transferred, simple to be invested and gives a high output but it cannot be denied that its price is unstable, if we talk about gold then its price is stable but to be invested first we have to cash out the gold by selling it which is a very time consuming and complicated process. Yes both can give each other a tough competition but it is not easy for them to replace each other.