The manned "Dragon" spacecraft with four astronauts docked with the International Space Station, and NASA released some photos. Photo courtesy of vision china

　　The International Space Station has made outstanding contributions to the rapid development of space science and applications. It has carried out more than 3,600 experiments, published nearly 3,000 high-level papers and published more than 2,200 publications in different fields.

　　— — Zhang Wei, Director, Application Development Center, Space Application Engineering and Technology Center, Chinese Academy of Sciences

　　Intern reporter Yu Ziyue

　　If you have a pair of clairvoyant eyes, you can see through the thick clouds, and there is a huge thing about 400 kilometers above the surface — — International space station. This is the largest space platform in orbit at present, which is jointly built, operated and used by 16 countries. Since its inception, it has been working conscientiously for more than 20 years, making numerous achievements and making a great reputation.

　　For human beings, manned space technology, space exploration and application and many other fields have been helped by the International Space Station. More importantly, the precious experience of the construction and maintenance of the International Space Station is like a seed, which accumulates strength for the birth of the new space station. Nowadays, the time is ripe for seeds to sprout. On April 21st, Dmitry rogozin, president of the Russian National Space Corporation, announced that Russia wants to build its own space station and strive to launch it in 2030. The launch of the new space station plan also means that the International Space Station is on the verge of "retirement". What contribution has the International Space Station brought to mankind? What will happen after "retirement"?

　　Multinational cooperation in exploring extraterrestrial space

　　On Halloween in 1998, two Russian astronauts took a manned spaceship with an American astronaut. After two days of unusual travel, they flew to the International Space Station, which was still in the early stage of construction, and wrote the preface for the international astronauts to stay here.

　　The International Space Station is one of the areas with the closest cooperation between Russia and the United States, and it is an "ice-breaking" in outer space.

　　However, it is difficult to build this huge machine that runs through the earth’s near-earth space only by the two countries. Delivery for the International Space Station also includes 11 European Space Agency member countries (France, Germany, Italy, etc.), Japan, Canada and Brazil, a total of 16 countries.

　　"The International Space Station is a space international cooperation project with the largest scale, the most complex technology and the largest number of countries involved. It has been under construction since November 1998, and has been built by ‘ Dawn ’ The functional cabin is built into 15 cabins of different sizes and will be basically completed by 2010. " Zhang Wei, director of the Application Development Center of the Space Application Engineering and Technology Center of the Chinese Academy of Sciences, said in an interview with the Science and Technology Daily reporter.

　　Zhang Wei introduced that the overall design of the International Space Station adopts a truss cabin-hanging structure, which is mainly composed of two parts. One part is to connect the Russian Star service module and Dawn function module with the American experimental module of Destiny, the European experimental module of Columbus and the Japanese experimental module of Hope through docking modules and node modules, thus forming the core part of the space station. The other part is that the truss structure is equipped with Canadian teleoperation manipulator system and extravehicular equipment of space station, and four pairs of large solar panels are installed at both ends of the truss.

　　The 16 countries are dedicated to building, and the 15 th cabin has its own duties. With the mutual dependence and close cooperation of partners, the International Space Station has opened its eager eyes and continuously explored the unknown fields of space technology, extraterrestrial space and scientific frontier.

　　Make outstanding contributions to space science research

　　In the field of scientific research, this space laboratory orbiting the earth can be described as brilliant and remarkable. Zhang Wei listed several typical achievements.

　　It is estimated that 73% of the universe is dark energy, 23% is dark matter and only 4% is visible matter as we know it. The study of dark matter is related to our understanding of the origin and development of the universe. In 2011, the second Alpha Magnetic Spectrometer (AMS— 02) A dark matter detector was placed in the International Space Station. The project attracted 56 institutions from 16 countries and regions to participate. AMS-02 has collected hundreds of billions of cosmic particle data, and the outstanding achievements include: the imbalance of positive and negative matter in the universe; Positrons in cosmic rays may come from dark matter; The age of cosmic rays is about 12 million years; There may be turbulence in the path of cosmic ray propagation. Since then, the new scientific research paradigm represented by the probe has become a new impetus for space science research.

　　In addition to facilitating the collection of cosmic particles, the International Space Station also has a valuable resource that is difficult to obtain on earth: microgravity. This is precious for us to study the relevant physical laws in microgravity environment.

　　The Cold Atomic Laboratory is a basic physical facility on the International Space Station, which can cool atoms to ultra-low temperature and study the basic physical properties of atoms in a way that is impossible to exist on earth, such as accurately measuring gravity. Based on this, scientists realize Bose-Einstein condensation in orbit for the first time, which is helpful to solve the most difficult problem in the field of quantum mechanics.

　　For ordinary people, these tall achievements may be difficult to fully understand. Next, let’s take a look at the relatively "grounded" but equally significant research on the International Space Station.

　　Earlier on the space shuttle, most astronauts could only spend a week or two in space. After the completion of the International Space Station, astronauts can be active on it for six months or even longer. Living in microgravity for a long time will lead to muscle atrophy and bone loss, and solving this problem is very important for realizing human long-term space survival. At present, scientists have developed daily exercise methods, eating habits and drugs to prevent and treat muscle atrophy and bone loss, which can significantly reduce the occurrence of muscle atrophy and bone loss during astronauts’ stay in the International Space Station, and lay the foundation for ensuring the physical strength and nutrition of astronauts in manned deep space missions.

　　"The International Space Station has made outstanding contributions to the rapid development of space science and applications. It has carried out more than 3,600 experiments, published nearly 3,000 high-level papers and published more than 2,200 publications in different fields." Zhang Wei told the Science and Technology Daily reporter that his contribution to supporting social and economic development involves many fields such as human health, earth disaster monitoring, popular science education, etc. At the same time, he actively promoted the industrial application of information, materials and medicines, and provided new ideas for the progress and development of ground-related industries.

　　International Space Station "Retired" or "Re-employed"

　　The design life of the International Space Station is 10-mdash; Fifteen years. Originally, this outstanding space "veteran cadre" was on the verge of "retirement". However, in 2015, Russia and the United States reached an agreement and signed an agreement to extend the service life of the International Space Station from 2020 to 2024.

　　Why can the International Space Station "stand by for a long time"? Zhang Wei pointed out that at the beginning of its construction, in order to make full use of this major space facility, it fully considered its long service requirements. At the same time, a series of technical measures have been taken to prevent emergencies, including space station protection scheme to prevent the impact of meteoroids and space debris, equipment testing and maintenance support scheme, etc.

　　Even so, this behemoth can’t resist the erosion of time after all. In 2020, there was an air leak in the American cabin on the International Space Station. Three astronauts stationed in the cabin were urgently concentrated in the Russian cabin to check the cabin closure pressure and find the source of the air leak. In 2018, the Russian Soyuz spacecraft docked with the International Space Station also found an air leak. At present, these emergencies are still under control.

　　How long will the International Space Station last? Nobody knows. However, Joel Montalbano, project manager of the International Space Station of the National Aeronautics and Space Administration (NASA) of the United States, is full of confidence in it: "At present, all parties agree that the International Space Station will operate until 2024, and from an engineering standpoint, the space station can last longer. We expect it to run until 2028, and there is no problem. "

　　Where will the International Space Station go after "retirement"?

　　Zhang Wei said that at present, the United States hopes to hand over the International Space Station to private companies such as SpaceX or Boeing after 2024. In his view, with the passage of time, spacecraft and equipment will inevitably age. When the safety and reliability of the International Space Station are reduced, especially when the environmental control and life support system cannot work normally and it is difficult to guarantee the life and work of astronauts in space, the International Space Station will have to retire.

　　"After the International Space Station is retired, in order to avoid becoming space junk, it can be controlled to return to Earth from orbit, and a small amount of debris will fall into the ocean after re-entering the atmosphere and burning." Zhang Wei said.

　　When a whale falls, everything is born. Even if one day, this diligent space "veteran cadre" will disappear in the ocean with the tragic bath fire, and the value it creates will remain forever on the historical road of human scientific progress, turning into a monument, like a whale falling, catalyzing a new round of space exploration.

Jane Zhang Weibo issued a document in response to the dispute.

　 　 1905 movie network news Recently, after many media reported that Jane Zhang Feng Ke was about to get married, Zhang Guiying, Jane Zhang’s mother, published an open letter through Zhuo Wei, claiming that Feng Ke had deceived Jane Zhang into being a mistress, and also swallowed Jane Zhang and her shares in the company, believing that Feng Ke was not a man who could entrust his daughter for life and opposed marriage. Therefore, a stone stirred up a thousand waves, and the marriage and family disputes between the two became the focus of public attention in an instant, and Jane Zhang issued a document in Weibo this afternoon, officially responding to this controversial event for the first time.

　 　 Jane Zhang, a middle school student in Weibo, expressed his understanding of his mother’s behavior. He never wanted her to be bothered by the circle in the entertainment circle for many years, and also voiced for Feng Ke: "For many years, I haven’t seen him all day for more than ten days, so there will be no problem of principle. Please don’t be suspicious. " Finally, I hope the public will give her some space: "I will handle and communicate my family affairs myself, so I won’t bother you, thank you!"

　 　 After posting in Jane Zhang, netizens also expressed their support and love for her: "I hope you are well." "We don’t care about anything else, as long as you are happy!"

Full text of Jane Zhang and Weibo:

　 　"First, Feng Ke and I have not met for more than ten days all day, and there is no possibility of any principled problems. Please don’t be suspicious; Second, since my mother expressed this concern, my property has been managed by myself; Third, the house was bought very early. At that time, there was not so much deposit, so I borrowed for 30 years. The house repayment was automatically bound by the bank card, and I transferred the money myself every month. Plus, I was always busy, so I ignored this thing, but I paid it off two years ago after my mother proposed it. Fourth, our business in Beijing has always been to work hard together and support each other to this day. No one is hurting anyone. The change of equity was also the suggestion of investors at the beginning. I have also confirmed this point, and the current equity has been changed many times, and it will continue to change in the future because of the changing needs of the company structure; Fifth, my mother is a simple person. Please don’t take advantage of her emotions. She doesn’t understand the harm of public opinion and the consequences of doing things. I can face anything and bear it, but I just don’t want her to get involved in any harm by keeping her away from this circle for so many years. I can understand that she loves my heart, and I will continue to patiently explain it to her, just as I have been doing for the past two years. I can understand the generation gap between the two generations, but I will only explain patiently, but I will not blindly follow. I am not an idiot, I have the direction I want. You don’t have to wait until you are old and have a large deposit and a few houses to feel safe. But before I die, I can finish what I want to do and show the value of my life.If I accomplish nothing, I won’t feel safe holding Jinshan Yinshan. In communication, I talked to my mother about all the bad assumptions, just to let her know, and the worst is just that. Besides, those bad possibilities are just my assumptions. I have judgment because I have trust. My family affairs, I will handle and communicate by myself, so I won’t bother you. Thank you! "

Special feature of 1905 film network On December 10th, 2021, a film with a biographical plot starring the director, Cypriot Grabovschi was released nationwide. The film tells the story of Miete, a blind jazz pianist. Although he has a musical talent, his piano path keeps hitting a wall with his eyesight fading away. The memory of being abandoned again and again made Miete gradually accept the lonely fate, and turned to hope in music to find himself and pursue the free soul.

Light and shadow vividly depict the madness of genius and the fragility of the blind, and also firmly stand on the keys in Miete’s short life of only 29 years. There are many films depicting talented musicians, such as, etc. Different from these films, The Legend of Mietek Kosz’s protagonist is even more special, and he is blind with visual disability.

Some viewers commented after watching, the film is not friendly to the audience in narrative logic, and The Legend of Mietek Kosz’s timeline needs to be sorted out by the audience themselves. It does not tell the life story of the protagonist in a straightforward way, but inserts fragments of childhood and youth in the process, showing the sense of fragmentation and fragility of the blind’s life and restoring the world experienced by the blind.

The film shows the impressive fragments in the protagonist’s memory, and also imitates the characteristics of people’s memories in reality: the most impressive fragments will first break into their minds, instead of recalling the past according to the timeline of life.

In addition to restoring the characteristics of the blind man’s world and memories, the film also focuses on shaping his pain and loneliness. Miyet in The Legend of Mietek Kosz once wrote a new song in the middle of the night, trying to share his joy with others, but his relatives around him didn’t respond to him. Finally, he had to go downstairs and find an unrelated street tramp to share it with. When he touched the handrail and went downstairs carefully, the stairs in the overhead shot seemed endless, just like Miete’s pain. His pain came from his suffering, which can be said to be the immortal soul of art.

Miete’s pain stems from the trauma caused by family of origin. family of origin, as a hot topic of discussion recently, is also a very interesting issue in the film. Ding Tian, editor-in-chief of China edition of Woruitai Vision magazine, said: "family of origin should be viewed half by half. Just like the lines in the movie, if you want to be a legendary outstanding pianist, it is actually half by half, half by skill and the other half by heart.

Family of origin: I think the biggest influence on people is love. Miete’s parents didn’t give him an example of love, so he actually didn’t know how to love, and love was ultimately believed, so it was difficult for him to believe it, and he would be very vacillating in it, which also led to his life being not so smooth. On the other hand, because of the lack of love, he vented all his emotions in his works, so this is a two-sided thing. "Art is precisely what Miete suffered from this missing love.

Family of origin not only influenced Miete’s character and creation, but also his love. There are two very important women in his life, one is his singing muse Su Sha. Many people may use their eyes to judge whether the other person looks to their liking in their daily mate selection, but for Miete, he is invisible, so the segment where they meet in the movie has become one of the rare highlights.

Miete disdained stuttering Su Sha at first, and as a result, he fell for her as soon as she became vocal. The lyrics of "Moon River" in the film actually metaphor life: "The river is more than a mile wide, and my heart will go with you, and I will float away." We certainly hope to find our own ferryman in love, but many times, it is ourselves who can finally cross you. Later, Miete met a bartender, and this relationship showed his yearning for motherhood from the side. Miete was very naive and romantic, and he needed a maternal partner to give him peace.

Ding Tian said: "What impressed me most was the window. Whenever the window was opened, music would play. Fate may be fair, because when it closes a door for you, another window will open. At the end of the shot, a beam of light hits Miete’s face after the window opens. His different pupil eyes are very charming, full of poetry and hope in such uncertainty and shaking. This kind of lens is also used in many movies. For example, as soon as Matilda opens the door, a beam of light shines on her face, and she later begins a relationship with the killer. But in The Legend of Mietek Kosz, I don’t think it is an end, but a hope and inspiration. "

In modern society, people are surrounded by mixed data and various marketing, and what they see and hear is not necessarily the truth; Praise and slander don’t really exist. To a certain extent, we have blind spots like Miete, a blind pianist. How to find your own way, find yourself, enjoy yourself and fight for it is a homework for many people and a way to find the value of life.

Today’s film reviewDirector’s observation:In the atmosphere of the end of the year and the beginning of the year, The Legend of Mietek Kosz’s art film may not be flattering. Adapted from a true story, it tells the legendary and bitter life of Miete, a blind jazz pianist. The following words may have nothing to do with the program, but they are a small egg I want to recommend to you. The film doesn’t explain why Miete ended his life at the age of 29, but at the end of the film, Miete played a song "Icarus" for the audience. The title of the song comes from the tragic figures in Greek mythology of the same name. Icarus, a human being, chased the sun in flight, but his flying wax wings were melted by the sun, and finally he had to fall into the sea of Wang Yang. Perhaps, Miete also foresaw his own ending early. (Liu Mengxin, director of Today’s Film Review.)

　　Xinhua News Agency, Beijing, May 5 (Reporter Wang Aona, Cao Yiming) Afraid of eating your stomach, Xiong Haizi damaging the goods in the shopping mall, and accidentally breaking the screen of your mobile phone? Maybe the insurance company has already thought of it for you.

　　Nowadays, novel Internet insurance products such as "food insurance", "Xiong Haizi insurance" and "mobile phone broken screen insurance" attract more and more consumers’ attention. Are these new types of insurance reliable? How do insurance companies design these products? What should I pay attention to when buying Internet insurance?

　　Internet plus Insurance meets the individual needs of users.

　　"Remember those years because of greed and sin? Then why not take out a food insurance to make yourself more secure? " The reporter saw in a shop of Taobao Insurance that the purchase of this food insurance premium only needs 9 yuan, and in the following year, if you are hospitalized or out-patient for acute gastroenteritis, you can pay 1000 yuan the highest.

　　There are not a few unexpected Internet innovation insurances like "food insurance". These special insurances with low premium, short guarantee period and strong interest have attracted more and more insurance online consumption. Among them, 0.9 yuan can take out the "occasional minor injury insurance", the protection period is one to three months, and the maximum compensation for accidental injuries during this period is 2,000 yuan. "January5" who bought this insurance said: "Spend a little money to buy peace of mind." There is also the "Xiong Haizi Insurance" which costs 8 yuan a whole year. Children under the age of 17 can get compensation for breaking shopping mall vases or school glass.

　　It is not difficult to see that Internet insurance has expanded more application scenarios in traditional property insurance and personal insurance, such as "Wang Xingbao" to protect the medical expenses caused by pet injuries, "Mobile phone broken screen insurance" for "hand-sliding party" and "beautiful as a flower insurance" for plastic surgery accidents. Compared with traditional insurance, these Internet insurances developed based on specific scenarios meet the short-term personalized segmentation insurance needs of users.

　　Chen Jin, CEO of Zhongan Online Property Insurance Co., Ltd., said that the Internet has changed the traditional business pattern. The core of the Internet economy is customer demand-oriented, and so is the insurance market. It is these massive, small and fragmented insurance policies that greatly lower the threshold of insurance and cultivate the new consumption habits of the younger generation to buy insurance.

　　Scenario innovation insurance is both a slogan and a risk.

　　Relying on the rapid substitution of Internet insurance for some standardized traditional insurance and the incremental market brought by innovative products, the innovative business of Internet insurance has maintained rapid growth.

　　According to statistics, in 2017, the number of Internet insurance signs was 12.491 billion, an increase of 102.60%, of which accident insurance was 1.592 billion, an increase of 539.26%; 1.032 billion liability insurance, an increase of 438.25%. It is precisely because of the prospect of rapid development of Internet insurance that more and more Internet giants such as Ali, Tencent, Baidu and JD.COM are competing to lay out in this field.

　　Chen Jin believes that with the advancement of artificial intelligence, cloud computing, big data and other technologies, the power of science and technology has begun to reshape the product design, pricing, sales and claims of the insurance value chain. Taking product design as an example, Internet insurance companies cut in to acquire customers from e-commerce transactions, online payment, online travel and other scenarios, and collect, process and analyze user data in various ecosystems, making many risks become insurable from non-insurable. For example, relying on the user’s purchase history, return frequency and other data, provide online shopping return insurance; Provide flight delay insurance by analyzing flight dynamics, travel frequency, weather conditions and other data.

　　"In the product pricing process, the combination of the Internet of Vehicles, drones, wearable devices and big data technology will help insurance companies better grasp the needs and risks of users and realize ‘ Thousands of people have thousands of faces ’ Dynamic pricing of. For example, in the field of auto insurance, we can rely on Internet big data to achieve accurate &lsquo according to the multi-dimensional factors such as driving mileage, behavior habits and vehicle safety factor of the owner; One car for one price ’ 。” Chen Jin said, "The future of Internet insurance should be personalized, customized and intelligent."

　　It is worth noting that while Internet insurance brings convenience to consumers, there are also potential risks.

　　The Bank of China Insurance Regulatory Commission recently issued a risk warning that "eye-catching" products may be misleading. Some insurance institutions have launched so-called "eye-catching" products for one-sided pursuit of attention and sales volume, and there are some problems such as nonstandard publicity content, inconsistent or incomplete display of format terms contained in web pages, and unclear exemption clauses, which are suspected of misleading consumers. In addition, some online platforms hide "tying", selling some insurance products by default checking on their ticketing and hotel reservation pages, failing to clearly list the underwriting subject or agent sales subject, and failing to fully disclose relevant important information such as insurance product terms, which infringes on consumers’ rights and interests such as the right to know and the right to choose independently.

　　Is it innovation or flicker? It is also necessary to strengthen supervision

　　Wang Yonghua, a visiting researcher at the Insurance Center of the Development Research Institute of Fudan University, said that if it is an insurance product, the first thing is insurance. In the name of mutual aid, some institutions are ostensibly insurance, but what they actually do is to raise funds for people. Some "exotic risks" may be controversial in claims because of their special scenes, and insurance companies may also try their best to expand sales, but ignore claims.

　　"From the consumer’s point of view, you should not be impulsive before buying, and you should fully understand the product. It should be understood that buying insurance is a way to protect extreme risks, not to make a fortune. Even wealth management products can only provide very limited value-added. " Wang Yonghua said.

　　Xia Xuemin, a visiting researcher in institute for public policy, Zhejiang University, believes that Internet insurance has many advantages, such as flexibility, low issuance and sales costs, and many institutions, even those without insurance business qualifications, have started to "scratch the edge" and launched many strange so-called Internet insurance products, and some even directly violated the national regulatory rules on insurance.

　　At the beginning of 2017, the relevant departments issued the Guidelines for the Development of Insurance Products of Property Insurance Companies, which for the first time refined the principles and prohibitive provisions for the development of insurance products of property insurance companies, and directed the supervision at property insurance products with hype concepts and gimmicky tendencies in the market, such as "sticker insurance", "love insurance" and "helping the elderly to be wrongly insured".

　　Cao Xingquan, a professor at the School of Civil and Commercial Law of Southwest University of Political Science and Law, said that the insurance law stipulates the approval and filing mechanism for product development, and the so-called "innovation" that does not conform to the insurance principle should be controlled by the government through strict implementation.

　　Xia Xuemin suggested that blacklists and integrity files of Internet insurance should be established, reporting channels should be opened, and users should be encouraged to actively reflect suspicious institutions and products, and online exposure should be made for unqualified sales of Internet insurance and illegal cross-border agency of Internet insurance products.

Wind

Recently, the price of gold has continued to hit a record high, and many analysts believe that the price of gold will not stop there, and there is still room for growth. However, from the perspective of asset investment, gold is not the best investment target, and Warren Buffett once held an evasive attitude towards gold.

International precious metal futures closed up sharply, COMEX gold futures rose 1.94% to $2,301/ounce, COMEX silver futures rose 4.71% to $26.255/ounce.

//Why is the price of gold soaring rapidly? //

Some market strategists said that the US core PCE price index did not rise unexpectedly, or further pushed the gold price to a new record high. According to the FedWatch Tool of the Chicago Stock Exchange, the current market price shows that the probability that traders expect the Fed to cut interest rates in June is 69%, which is higher than 64% before the data was released on Friday.

Gong Ming, a researcher of precious metals in jinrui futures, told the Securities Times reporter that "the intensification of geographical conflicts, the expected transfer of interest rate cuts and abundant liquidity are the main driving forces for the strong rise of precious metals prices in this round. Many investors have been puzzled this year, and it seems that the system of real yield of US debt is no longer effective in gold pricing. But in fact, gold is closely related to the global political environment in addition to liquidity at every stage. "

Cao Liulong, chief strategist of Founder Securities, said that the gold price in the Fed’s "interest rate hike" cycle will generally fall, but the gold price in this round of "interest rate hike" cycle continues to rise sharply, which means that the traditional gold analysis framework is invalid. The acceleration of anti-globalization has led to the expansion of the "dollar credit crack", which is the anchor of the recent "arrogance" of gold prices. Gold is the ultimate "scarce asset", and the price center has begun to move up. Once the petrodollar collapses, it will be difficult to rebuild. In the future, there may be an era of "disputes among countries" without a single reserve currency, and gold is expected to open a decade-old bull.

Yang Hong, a senior researcher at Ping An Futures, said that the short-term gold price was mainly boosted by the safe-haven demand and the Fed’s loose expectations. As the gold price rose, the market gradually digested the Fed’s loose expectations, but the geographical risk and the risk of mine explosion in regional banks in the United States still existed, and the gold price would continue to be supported by the safe-haven demand, so it is expected that the gold price will continue to fluctuate strongly in the short term; In the medium and long term, the continuous purchase of gold by global central banks will bring long-term bullish support to the price of gold.

According to the data of the World Gold Council, in February, the People’s Bank of China announced the purchase of gold for the 16th consecutive month, and China’s official gold reserves increased by 12 tons to 2,257 tons. By the end of February, gold accounted for 4.3% of China’s total foreign exchange reserves, which was higher than 3.4% when the People’s Bank of China announced its re-holding of gold in November 2022. In January, the net amount of gold purchased by global central banks rose from 31 tons to 77 tons, up 192% from last December.

//Gold is not worth long-term investment? //

Tim Hayes, chief global investment strategist of Ned Davis Research, wrote in a recent report that although the current economic situation is favorable for the stock market, "it is more optimistic for gold, and we continue to be optimistic about gold".

However, investment experts say that even if the prospects are good, the role of gold in the portfolio should be completely different from that of stocks or bonds. Because the trend of gold is often different from traditional investment, gold may be an appropriate diversified investment method for some investors, but it should not be regarded as the main component of the portfolio.

Different investors hold gold for different reasons. First of all, gold is famous for maintaining or increasing its value in times of inflation. On the other hand, if paper money depreciates sharply, gold is considered as a store of value. After all, gold has been regarded as a natural currency for thousands of years.

It is widely expected that in the so-called "safe haven" market, the rising price of gold will continue, because investors tend to flee from risky stocks such as stocks to places regarded as safe haven assets, including gold and bonds. This means that investors tend to buy more gold before and during recessions and bear markets.

Ford O’Neill, co-portfolio manager of Fidelity Strategic Real Return Fund, said that for this reason, the recent upward trend of gold is a bit strange. He said: "Since October last year, this is by no means an OTC risk that has prompted the price of gold to rise. I think that there has been a’ rebound of everything’, and obviously quite a few assets have performed quite well. "

Ford O’Neill said that in essence, gold is performing well because investors are pushing up the price of almost everything, from stocks to bonds to cryptocurrencies.

Tim Hayes believes that in addition to the upward trend, the weakening of the dollar and the decline in bond interest rates have also boosted the price of gold. He believes that at lower interest rates, bonds and cash accounts are "less competitive" than gold. As the Federal Reserve is expected to cut interest rates this year, the prospect of gold is becoming more and more optimistic. The lower the interest rate, the lower the opportunity cost for investors to hold gold, and gold does not need to pay interest.

//Buffett used to avoid gold//

As we all know, Buffett, the billionaire investor and chairman of Berkshire Hathaway, has always been evasive about gold.

In his letter to shareholders in 2011, Buffett pointed out that investors can use enough surplus funds to buy all farmland in the United States and ExxonMobil more than 16 times. A century later, one of the options will bring rich crops and sufficient dividends. Another option is just a lot of gold.

In the past 15 years, the annualized return of ETF, which tracks the spot price of gold, was 5.5%, while that of Standard & Poor’s 500 Index was 15.3%.

As for fighting inflation, gold doesn’t seem to be a perfect choice. Although inflation has been stable since 1988, gold showed negative returns in 18 years, including 2021 and 2022.

William Bernstein, the author of The Four Pillars of Investing, recently told the media: "When everything else is in trouble, gold is the only thing that can perform well. When you have a fire, family insurance also has a high return. "

But in the long run, assets will grow at a compound rate and bring returns. Buffett wrote in 2011: "It is true that gold has certain industrial and decorative uses, but the demand for these uses is limited and it cannot absorb new production. At the same time, if you hold an ounce of gold for a long time, you will end up with only one ounce of gold. "

Original title: "The price of gold has reached a new high! Although there is room for growth, gold is not worth long-term investment? 》

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　　The State Council Information Office held a press conference at 10: 00 a.m. in the press room of the State Council Information Office. When introducing the import and export situation in the first three quarters of 2015, Huang Songping, spokesman of the General Administration of Customs, said that the export growth rate continued to decline in the third quarter, but the monthly decline in exports narrowed month by month. Exports increased by 4.8% in the first quarter, and decreased by 3% and 5.6% in the second and third quarters, respectively. However, in the third quarter, the monthly decline in exports narrowed, with decreases of 9.5%, 6.1% and 1.1% in July, August and September respectively. The main reason is that the effects of China’s long-term policies and measures are gradually emerging, and foreign trade enterprises are also actively fulfilling contract agreements, and delivery is relatively concentrated.