Quote from: Fortify on April 26, 2025, 03:31:06 PM

Quote from: arhipova on March 30, 2025, 03:50:32 AM

I was watching a video where they told that now most countries are depositing gold as reserves instead of buying US dollar deposits. Does this mean that price of gold will be uncontrollable in coming years ? Is it going to affect the buying behavior related to gold for common people ?

Countries have always used gold to diversify their foreign reserves - among many other assets it gives some credibility to their own currency. At the moment we see a massive upheaval in the world economic order because of the erratic actions of the US president, he has done a lot of damage to the US dollar in the last few weeks which has traditionally been the "flight to safety" currency. Gold might continue to rise steadily, because there is a finite supply of it and it actually has industrial uses alongside cultural demand. If the government of big countries have decided to start moving their money into gold, it will effect the consumer market because there will be a competition for those limited supplies.

Can't deny most of people already thinks of credibility when it comes to gold, but is it finite though? it's considered finite because we rarely found gold mine, but even asteroid contains gold. until space exploration possible, it will stay finite I guess, but I don't know when human can mine asteroid or even other planet.

On the other hand, bitcoin is secured by math, can't be replicated and supply is capped. Countries need to start looking at BTC and consider it as a reserve.