This wave of gold fever is coming too fiercely. Dollar-cost averaging, ETFs, physical gold... the scale across various channels is soaring, and the underlying logic is quite clear—uncertainty in the global economy has shifted gold from a traditional safe haven to a strategic asset.

Speaking of why gold is valuable, it starts with its dual identity. It is both a commodity and a form of currency. What does this mean? Global recognition. It is not influenced by the sole opinion of any central bank, and its supply is relatively independent. In hedging against currency devaluation, it is the "hard currency."

The actions of central banks around the world clearly illustrate this. Continuous accumulation of gold has become the norm, and our country has been following suit for 11 consecutive months. This is no coincidence; countries are taking concrete actions to increase certainty in their asset pools. Under the backdrop of de-dollarization, the status of strategic reserves is becoming increasingly important.

Why are gold prices so fierce in 2025? It’s not just one reason. The Federal Reserve has started a rate cut cycle, which directly lowers the opportunity cost of holding gold. Meanwhile, the dollar is under pressure—fiscal deficits are eroding credit foundations. The global supply and demand gap for mined gold cannot be filled, geopolitical conflicts are frequent, and economic risks are emerging one after another. These three forces are pushing together, with spot gold prices rising nearly 68% this year, just breaking through the $4,400 per ounce mark. This is not hype; it’s logical resonance.

For investors, what makes gold attractive? First, it can effectively hedge against inflation. When market volatility rises, gold often performs inversely, adding a "safety cushion" to asset portfolios. Second, investment channels are flexible—physical gold, ETFs, gold stocks—different options for different needs. Plus, trading in the domestic market is convenient, the scale is expanding, and liquidity is not an issue.

What is the rational approach to allocating gold? It is to participate in long-term appreciation opportunities while balancing volatility through diversification. This prudent allocation approach is increasingly becoming the consensus among investors.