'Non-Productive' Gold Zooms to $30T Market Cap, Leaving Bitcoin, Nvidia, Apple, Google Far Behind

Core Insights - Gold has reached a market capitalization exceeding $30 trillion in 2025, significantly surpassing digital gold, bitcoin, and major U.S. tech companies [1][2] - The price of gold per ounce has increased by 66% to approximately $4,380, with a notable 13% rise in October alone [1] - Gold's market capitalization is based on an estimated above-ground global supply of 216,265 metric tonnes [2] Market Comparison - Nvidia holds a market capitalization of $4.42 trillion, making it the second most valuable company, followed by Microsoft, Apple, Alphabet, silver, and Amazon [2] - Bitcoin ranks eighth with a market capitalization of $2.17 trillion, reflecting its status as digital gold [3] Economic Implications - Gold's premium over tech giants suggests a negative outlook for the global economy, as it is a non-productive asset that does not generate income [4] - The significant premium indicates that investors are seeking safe havens amid economic uncertainty, as highlighted by Ken Griffin's concerns regarding gold's appeal over the U.S. dollar [5] Catalysts for Gold Rally - The rally in gold prices has been driven by factors such as fiscal imprudence in the U.S., persistent inflation, geopolitical tensions, and expectations for Federal Reserve rate cuts [6] - Analysts expect the upward trend in gold prices to continue [6] Bitcoin's Position - While gold has surged over 60% this year, bitcoin has seen a more modest gain of 16% in 2025 [7] - There is optimism that as the gold rally cools, investment funds may shift towards bitcoin as a relatively cheaper digital store of value [7]