I have got a few graphs, which shows clearly that there is no relation at all between the prices of gold and bitcoin (warning: these charts are a bit old, and taken in April 2017)

There is no direct relationship between bitcoin price and gold price.Gold is bought by people for centuries all over the world.Bitcoin investment has started just eight years ago.Unlike bitcoins,gold is also bought for ornamental use.So,there is always an increasing demand for gold which is not affected by any other factors.So gold price has nothing to do with increase or decrease in bitcoin price.

Gold is also a volatile asset, although it may not be as volatile as Bitcoin or any other type of crypto-currency. Check these charts, which gives more details about the gold price movement:



It is clear from the chart that there is a lot of volatility with the gold exchange rates.

Right Bitcoin and gold both are completely different assets. The gold supply and demand is almost equal so we will not see a huge variation in gold price. but the Bitcoin supply is less and the demand is high so the price is high for bitcoins. Gold is physical asset and Bitcoin is a virtual asset there are no similarities b/w gold and bitcoin.

Absolutely, they do not have any relevance. Conversely, bitcoins and gold contrast. Gold has real value and it is a precious metal, it is not subject to any change, in contrast, bitcoin is heavily modified.

Maybe but we can't know that for sure.

Bitcoin market cap is not even close to gold's market cap to be comparable...

Gold market is under manipulation of derivatives from Deutsche Bank for a long time now and we'll never know the real gold price unless Deutsche stops playing with the prices.

As far as I know, bitcoin isn't being manipulated by the derivatives, yet. That means even if the prices were being manipulated by somebody, It is not as powerful as what gold is taking.

Still I can say you this;

I hold nearly equal amounts of bitcoins and gold coins. If bitcoin didn't exist, I was probably holding x2 amount of gold coins what I have now. So my bitcoins actually ate from the gold's market cap and killed some demand for gold.

Considering that nearly every bitcoin holder have a passion for gold and bitcoin shares some similarities, It is probably true.

No, both have no relation between each other, bitcoin is an investment and gold is also another investment. I give you an example, bitcoin is crypto currency, and you know that most of the other cyrpto currencies are here, than you couldn't say that all crypto currencies are same. No, bitcoin has its own place and others are different from bitcoin. Then it is same like bitcoin price has no relation with gold price or any other investment's price.

Exactly there's no direct relation between them. The only relationship between them is shown on the stock exchange and nothing more, they are just compared to each other; an ounce of gold to one Bitcoin.

Gold exchange can be found in various global trading markets because it belongs to the category of physical assets, you just need to look for it more widely. It is true that bitcoin and gold prices have no conjunction, the only relationship between them is its function as an active and passive investment asset.