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are you sure the price of gold will break $ 321.54 / gram and how will it affect the crypto backed-gold currencies like
GOLD stable coingive your opinion
When a cryptocurrency is backed by Gold, I think that it should be worth the same price which Gold have/will have in the future. And to reach that price, gold will need too much money to be poured in it by the investors to let it take off. Instead, I see it going inverse and getting crashed a bit. The aggregate value of gold is much less compared to what we see in the markets, but the demand after covid-19 surged for gold and that is the only source for Gold to remain high.
In this corona,some hidden money had play a vital role.And it's one of the cause of the rise of demand of the gold.Secondly many marriages was get into action and increase the demand of gold in the market.The gold merchant made a statement of,the demand is high and we can't get gold to corona.Like this the price of gold reached the new high price.
What Hidden money are you talking about here mate?who has the hidden money and how did they affect the crypto market?
and many marriage happens?people has no money now so why need to prioritize marriage when they need Money to survive?
i don't think your idea is appropriate in this thread,No offense.
Gold has its own market same as Crypto so it is irrelevant to compare them both.