# Lifestyles & Discussion > Bitcoin / Cryptocurrencies >  https://www.bloomberg.com/news/articles/2017-11-07/bitcoin-rally-is-eroding-gold-s-appeal-top-

## Mordan

https://www.bloomberg.com/news/artic...e-vaulter-says




> Add bitcoin to the list of things denting golds appeal.
> 
> Bullions rally faltered in the past two months as the dollar strengthened and global equities set new records, while concerns over Brexit and Catalonias push for independence failed to drum up notable haven demand. Now, bitcoins surge is attracting investor interest toward the cryptocurrency and away from the metal, the biggest online vaulting service said.
> 
> According to Google Trends, searches for buy bitcoin have overtaken buy gold after previously exceeding searches for how to purchase silver. Last month, the amount of gold changing hands on BullionVaults online trading platform dropped by almost a third from the 12-month average.
> 
> With the U.S. stock market setting fresh all-time highs day after day, its no surprise gold prices have retreated, Adrian Ash, research director at London-based BullionVault, said in a report. Some investors are also being distracted by the noise around Bitcoin and other cryptocurrencies. Altogether, thats made interest from new gold investors the weakest since the metals half-decade price lows of end-2015.
> 
> Gold has dropped about 6 percent since touching a one-year high on Sept. 8, cutting this years gain to 11 percent. Bitcoin jumped more than sevenfold this year and more than 13 times the advance of the best-performing commodity tracked by Bloomberg.
> ...

----------

