#Strategy加码BTC配置 The biggest surprise in the 2025 financial markets is none other than gold.

This year, gold achieved a major milestone — soaring from $2,650 per ounce at the beginning of the year to a record high of $4,550, an increase of nearly 70%, setting over 50 records throughout the year. Although there was a pullback at the end of the year, it stabilized around $4,400, remaining the most outstanding asset in performance.

Why is gold so resilient? The reason is quite straightforward. The Federal Reserve started cutting interest rates in September, reducing a total of 75 basis points for the year, which caused the US dollar index to fall by 19%. As the dollar depreciated, the cost of holding gold naturally decreased, making it more attractive. More importantly, global central banks collectively entered the market to buy — net purchases in the first three quarters reached 634 tons. This institutional-level bullish signal should not be underestimated. Coupled with geopolitical tensions and high US debt yields, gold’s safe-haven halo shines even brighter.

From a technical perspective, the 14-month upward channel for gold remains firmly intact, with prices staying well above the 20-week moving average, and the 200-day EMA providing strong support. Although the RSI exceeded 70 at year-end, indicating some short-term overbought conditions, this does not threaten the overall trend.

Compared to the rollercoaster of cryptocurrencies like $BTC, gold’s stability is evidently superior. When geopolitical risks surge, other assets fall while gold rises; its volatility is also much lower than other safe-haven assets. That’s why institutions are increasingly favoring gold allocations — stable and effective.

Looking ahead, gold prices in 2026 are likely to continue gradually rising, with $5,000 per ounce being a reasonable target. However, don’t get too excited too early; if the US economy unexpectedly rebounds or inflation rebounds, there will likely be short-term pullbacks. But overall, the bullish logic remains unchanged, and gold’s value as a safe-haven asset remains solid.

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