Gold market cap tops $30 trillion, well above Bitcoin & tech
Gold's market capitalization reached $30 trillion after the metal climbed to a record $4,380 per troy ounce. That figure is an estimate of the total value of all mined gold and is roughly 14 times Bitcoin's roughly $2.1 trillion market cap and about 1.6 times the combined value of Nvidia, Microsoft, Apple, Alphabet, Amazon, Meta and Tesla.
Market participants point to several drivers: central banks adding gold to reserves, heightened geopolitical tensions and trade disputes, and inflation expectations alongside prospects of a pause or eventual easing in US monetary policy. Official data and central bank reports show gold accounts for about 23% of global reserves, compared with roughly 20% for the euro.
Analyst forecasts diverge. Goldman Sachs raised its long‑term target to about $4,900 an ounce by December 2026. J.P. Morgan projects an average near $3,675 in late 2025 and a return toward $4,000 by mid‑2026. Analysts caution that a stronger dollar or delayed Federal Reserve rate cuts could push prices back toward the $3,000–$3,200 range.
Market watchers say that if gold’s rally cools, capital could rotate into other assets. Crypto users estimate that gold’s market cap jumped by more than $300 billion today and argue that Bitcoin could advance once the gold surge eases. In addition, the market capitalization of gold-backed tokens recently surpassed $3 billion.
Bitcoin market analyst Joe Consorti commented that a loosening of Bitcoin's correlation with US equities could attract capital if gold flows slow. Trader Merlijn the Trader observed that liquidity often moves into risk assets and said a sharp catch‑up rally for crypto is possible if the divergence ends.
The $30 trillion estimate reflects an uncertain total quantity of mined gold, so the figure is approximate. Intraday volatility has risen, but prices have remained above $4,000 in recent sessions.
Prices have increased around 60% year‑to‑date, repeatedly setting new highs. Dealers and coin shops in the US, Europe and Australia reported wider premiums over spot prices and shortages of popular sizes. Social media posts displayed queues at retail outlets buying coins and bars
Bitcoin market analyst Joe Consorti commented that a loosening of Bitcoin's correlation with US equities could attract capital if gold flows slow. Trader Merlijn the Trader observed that liquidity often moves into risk assets and said a sharp catch‑up rally for crypto is possible if the divergence ends.
The $30 trillion estimate reflects an uncertain total quantity of mined gold, so the figure is approximate. Intraday volatility has risen, but prices have remained above $4,000 in recent sessions.
Prices have increased around 60% year‑to‑date, repeatedly setting new highs. Dealers and coin shops in the US, Europe and Australia reported wider premiums over spot prices and shortages of popular sizes. Social media posts displayed queues at retail outlets buying coins and bars
