---
title: "Soft and hard are different -- The Beta of the era!"
description: "Since the beginning of the year, the strong performance of \"hard assets\" like gold (yellow line in the chart) stands in stark contrast to the decline of U.S. software stocks (red line). The former has"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/273298066.md"
published_at: "2026-01-22T00:39:49.000Z"
---

# Soft and hard are different -- The Beta of the era!

> Since the beginning of the year, the strong performance of "hard assets" like gold (yellow line in the chart) stands in stark contrast to the decline of U.S. software stocks (red line). The former has benefited from various factors such as geopolitical tensions and fiscal crises, while the latter is "teetering" under the impact of epoch-making AI products like Claude Code. This may be the "characteristic of the era" in the 2020s: a intertwining of technological shocks, geopolitical risks, and fiscal crises

Since the beginning of the year, the strong performance of "hard assets" like gold (the yellow line in the chart) sharply contrasts with the decline of U.S. software stocks (the red line).

The former has been "benefiting from all sides" amidst various factors such as geopolitical tensions and fiscal crises;

The latter, on the other hand, is "on the verge of collapse" under the impact of epoch-making AI products like Claude Code.

This may be the "characteristic of the era" in the 2020s: a blend of technological shocks, geopolitical risks, and fiscal crises.

### Related Stocks

- [600547.CN - SD-GOLD](https://longbridge.com/en/quote/600547.CN.md)
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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.