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Both chips and gold possess "scarcity" and "safe-haven attributes". Chips, as representatives of advanced technology, demonstrate their scarcity in breakthroughs in advanced manufacturing processes and AI computing power. Gold, on the other hand, with its hard currency status and value preservation function, becomes a safe-haven choice for investors amid economic uncertainties. Both showed strong upward momentum in 2025, and at certain times, the price increase of chips even surpassed that of gold.
However, it is worth noting that although the price trends of the two are highly correlated, their driving factors are not entirely the same. The increase in chip prices is more influenced by technological progress, market demand, and geopolitical factors, while the price of gold is more constrained by the macroeconomic environment, inflation expectations, and the trend of the US dollar. For instance, JPMorgan predicts that the price of gold is expected to exceed $3,000 per ounce by 2025, and Goldman Sachs has also raised its expectations for the gold price, believing it could reach $3,000 per ounce by the end of 2025. In contrast, the rise in chip prices is more driven by emerging technologies such as AI and autonomous driving.
Overall, in 2025, the price fluctuations of chips and gold formed a pattern of "concurrent resonance". Driven by market sentiment and economic conditions, the two exhibited a highly synchronized trend. This interrelationship not only reflects the complexity of the current global technology and financial markets but also provides significant reference value for investors.