It's an interesting question because millenials don't view gold as having the same type of value as previous generations. If people don't need wedding bands, gold earrings, gold teeth...and the demand for it goes down, what happens then?

And nobody actually holds gold these days. Few people get gold bars delivered to their homes/keep it in a safe. You own it but someone else holds it. That's why for millenials, BitCoin can work as gold.