Expectations of the end of gold’s rally and fears of a 1980-style scenario
Cathie Wood, CEO of ARK Invest, said in an interview with Sky News Arabia that gold’s gains may be nearing their end, noting that global economic shifts and technological innovations are increasingly influencing investment in precious metals.

Wood explained that history shows recurring patterns gold prices peaked during two major periods: the first following the market crash of 1929–1930, and the second at the end of the 1970s. “After those peaks, markets began offloading gold for years,” she said.

“We believe this time will be similar to what happened in 1980, and we may soon see gold’s rally come to an end,” Wood added.

She emphasized that transformations in the global financial system including the rise of digital currencies are reducing reliance on gold as a safe haven.

Wood stated that “Bitcoin currently represents a digital store of value that could reach $1 million in the future, while gold is gradually retreating from its record highs.”

She linked technological innovation to its impact on financial markets, noting that advances in fields such as robotics, cloud storage, and digital technology are driving new investment growth and shifting investors’ focus away from traditional assets like gold.

“Today, investors are focusing on technology-based assets that offer long-term returns, reducing gold’s traditional role in investment portfolios,” she said.

Wood also pointed out that the U.S. dollar is going through a period of relative weakness, stressing that “digital currencies may continue to evolve, reducing the need for gold as a hedge against inflation.” She added, “Investors should consider diversifying their portfolios to include technology and digital assets, rather than relying solely on precious metals.”

Her comments come amid global market volatility and the surge in digital asset values, reflecting a broader shift in investor mindset — from depending on gold as a safe haven to seeking innovative investment tools better suited to the digital future.