华尔街：黄金是“最硬核”资产 贵金属风头盖过AI

Core Viewpoint - Gold has emerged as a dominant asset class in 2023, surpassing even the interest in artificial intelligence, with significant price increases driven by global trade concerns, Federal Reserve rate cut expectations, and a weakening dollar [1][2]. Group 1: Market Performance - Gold prices have seen a remarkable increase, surpassing $4,000 per ounce in early October and reaching over $4,300 this week, marking a year-to-date increase of over 50% [1]. - Silver prices have also surged, hovering near record highs with a cumulative increase of over 60% [1]. - The performance of precious metals has outpaced the stock market, where the Nasdaq 100 index has risen over 19% and the S&P 500 index has increased over 14% this year [1]. Group 2: Changing Perception of Gold - The perception of gold as an asset class is shifting; it is no longer viewed merely as a hedge against currency or a simple investment tool [2]. - Investors are increasingly seeing gold as a scarce asset amid rising debt levels and inflation, leading to a preference for hard assets [2]. Group 3: Historical Context and Future Trends - Gold's rise began in earnest in 2022, following the freezing of Russian central bank reserves due to the Ukraine conflict, prompting countries to reassess their dollar reserves [3]. - This trend has continued into 2023 and 2024, with a notable increase in central bank gold purchases [3]. - The proportion of gold in global reserve assets reached 24% in Q2 2023, the highest level since the late 1990s, driven by uncertainties related to the weakening dollar and geopolitical tensions [3].