I doubt it's going to happen anytime soon. I know half of the gold nowadays is used for jewelry but don't forget the relation between gold and humans. There has always been a place for gold in all civilizations, even before Jesus Christ., during the pre-Columbian era, Egypt, Rome...
Some of them thought it was a God or something like that.
In the 21st century, it's still the same more or less. I mean, if you see in India for example. Tons of gold are owned by women. They're addict to it, I believe it's part of their culture.
I'm not worried to see the price decline up to the point where it collapses or people abandon it. You have more chances to see it happening with BTC than Gold
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Well, if we weren't living in the very fast changing world, I would agree with you. But I think that the desire to wear golden jewelry has something to do with lack of knowledge. (Please forgive me if it sounds rude. I don't want to offend anybody, especially my grandma who adores wearing gold jewelry.
)Today we have these numbers
Around 90 percent of the world’s population had completed a primary education in 2020, whereas only 66 percent had attained a secondary education.
which are very good compared to what we had, say, 100 years ago.
And here's one informative chart too. It's on Global adult literacy rate aged 15 years and older from 1976 to 2019
And I believe that in the future, mainly thanks to the Internet, we'll have much more educated people around, and the gold price will drop consequently.
