Recently, the global precious metals market has exploded. Gold and silver have both surged to set new records, prompting investors to reassess the value of safe-haven assets.

First, let's look at how crazy the data is: Gold surged 2.43% in a single day, with the spot price reaching $4467.63 per ounce, an increase of 70% for the year. Silver was even more intense, rising 2.77% to $69.36, soaring 139% for the year! Such a momentum is not common in history.

The factors driving this wave of market activity are actually quite clear. Expectations for a rate cut by the Federal Reserve are rising, global central banks are signaling easing, and combined with escalating geopolitical conflicts and increasing concerns over national debt, safe-haven funds are flooding into the precious metals market. Institutions are also optimistic about the future—Goldman Sachs has expressed the view that gold prices could potentially break through $4,900 by 2026, with upward potential generally being well regarded.

Interestingly, this wave of market activity has brought an old question back to the forefront: how should one choose between traditional safe-haven assets and new types of assets? Precious metals, with their physical properties and thousands of years of historical accumulation, naturally possess a safe-haven halo. However, digital assets like Bitcoin have also emerged in recent years, proclaiming themselves as the "digital gold" of the new era.

From the perspective of value-added potential, precious metals mainly rely on macroeconomic drivers; from the perspective of liquidity and innovation, digital assets exhibit different charms. The market is not a choice between one or the other; more investors are starting to think about how to balance their allocation between the two types of assets.