And industry of electronics will only become bigger and bigger so demand for gold will increase over time
That's not necessarily so
In simple terms, gold is not something which the industry of electronics cannot do without. It is not the best electrical conductor out there (silver is at room temperatures, with copper being most widely used), and while it definitely has some unique properties, the demand for it is quite elastic. Put differently, if the price of gold rises, it will be increasingly substituted with other elements and compounds (or just taken away completely by changes in design)