Well… The person somewhere above calculated that if it was solid gold it would be about 1km x 1km… However now I just looked it up on Wikipedia, and it seems that Psyche 16 is roughly 223 km in diameter… So first of all it’s clearly not solid gold… But the dinosaurs were wiped out by a meteor, and we think the meteor that caused the extinction of all the dinosaurs is the Chicxulub crater, a little off the coast from Mexico. That meteor is estimated to have been around 10km in diameter… So if we crashed Psyche 16 into earth, it would certainly be a “life on earth”-ending event.

To be honest I don’t know (also not OP) but if the gold is one solid chunk there might be chance that it will function as a large enough heatsink that it wont “burn”… But then again it’s probably not just one chunk… So some of the outer layers might “burn” as you say, but the gold atoms are not lost. That would require a nuclear reaction… Instead some of that gold would turn into liquid, and some would turn into gas. In this state it might reach with other elements in the atmosphere, but if it doesn’t it will turn back into solid form again when it cools. In that case the result would be microscopic gold clumps spread over a huge area.