🔥CHART OF THE WEEK: Gold market capitalization hit a new record of $18.4 trillion
Gold prices also surpassed $2,700 for the first time in history
Gold market value reached $18.4 trillion in October, a new all-time high. Over the last 6 years, gold market cap has more than doubled.
Gold market value is now 13 times higher than Bitcoin's market cap. By the way, this also shows an interesting potential for the Bitcoin market to increase in the future.
To put this into another perspective, the gold market is an equivalent of ~33% of the entire US stock market value.
Meanwhile, gold prices closed at ~$2,730 on Friday and are up 32% year-to-date.
What has been driving gold prices and will likely drive going forward? You can find the answer in the following article which in April almost perfectly predicted a subsequent gold price behavior (if you would like to see an update to the gold analysis drop me a message on Substack chat or X platform):
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