In my view, such a comparison between stocks and gold (which is paper gold btw. in this case) has a number catches. Firstly, the stock market is in total bubble territory and the prices for most stocks are purely speculative and have no relation to the real value of the companies. Its only because of the QE and 0% interest policy of the central banks that stocks have reached todays highs. And this situation can quickly change. The inflated currency supply will sooner or later destroy the purchasing power of the fiat currencies. That of course also reflects on the objective value of stocks, since they are representing those fiat currencies.
Secondly, gold and silver (real physical) investments are not supposed to make profits. Their task is to preserve the purchasing power of a investment. That has worked pretty good so far in the past, and it probably will do so in the future too. As you said, their amount is finite and cannot be artificially increased, at least for the forseeable future.
Crypto currencies suffer from a number of flaws so far. The biggest is, that basically everybody can create new ones any time. Really they are also fiat currencies, that only have value as long as people believe they have value. Just like our regular currencies, only without the government backing.
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Basically what you are saying the stocks and the fiat are now inflated and the gold is yet to become more valuable. I have taken quite a long period above, a 10 years one. At least in the past decade gold hasn't been a better investment than tech stocks.
It may be different in the next one. Cant tell :)
Well, what will happen in the future is everybody's guess. But that stocks are overvalued now can be seen as a fact, I would say. Looking at the economic realities in the US (but not only there) it is ridiculous that the Dow ect. are near all time highs. Suspicious minds could think that has something to do with upcoming elections... :)
You prefer to only look at part of the equation. Gold is a market traded asset, thus how come you did not look at gold as being overvalued. Do you think the gold market moves based upon fundamentals? Obviously it does not since the gold expansion rate is roughly 1.5% yet we see big swings in the price.
Obviously, gold was overvalued in 2011 when it hit $1,900 an oz. By the time it was done dropping 5 years later, it lost more than $800 an oz.
How can you assert that, perhaps, gold is not overvalued at this time?
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Well, for one, the market traded gold is not real gold. Try to buy some real physical gold for the Comex price - it won't happen. Even if you buy a ton or so.
The thing is, gold is more than just a asset like any other. Gold is also a mirror of the value of the fiat currencies, its a instrument of power plays between rivaling countries, and its a fear indicator in a economy. Silver is similar, by the way, only its more for the small people. And the practical use in the industry has a bigger role like in gold.
Over all, the price for gold - real gold - says more about the currency that is used to buy it rather than the "value of gold". The value of gold is basically always the same: 1 oz of gold is worth 1 oz of gold. How many US$ or Euros or whatever you get for it, that's the variable part in the calculation.