Gold just broke through $4,650, marking fresh all-time highs as geopolitical tensions escalate. The surge has reignited an old debate: which reaches 5,000 first—precious metals or ETH?

The numbers tell an interesting story. In current sentiment, gold dominates with 83.5% backing. Yet for crypto believers, the race reflects two different narratives: traditional safe-haven flows versus digital asset adoption.

Tariff threats are clearly supporting gold's bullish run. Meanwhile, Ethereum sits at the crossroads of macro headwinds and ecosystem development. Both assets are capturing distinct investor psychology right now—gold through uncertainty, crypto through conviction.