Why are gold, silver, palladium, and various precious metals constantly reaching new highs? My understanding is that it is due to the certainty of the US dollar devaluation combined with the certainty of AI's resonance. The certainty of the US dollar devaluation comes from the massive amount of US debt. The big pump in the demand for computing power brought by the AI industry leads to a big pump in the demand for various metal materials, which is the second certainty. In contrast, $BTC only benefits from the first certainty, and therefore does not perform as well as precious metals.