Market Performance of Gold and Silver
On Monday, gold and silver stood out in the precious metals market, reaching highs of $5,100 and $112 per ounce, respectively.
These prices have not been seen before. When comparing the market capitalization of these precious materials with the world’s largest companies, gold and silver now exceed the combined value of Nvidia, Alphabet (Google), and Apple.
Market Capitalization Comparison
According to Market Cap, gold has a market capitalization of $35.4 trillion, while silver reaches $6.3 trillion.
Major companies like Nvidia, Alphabet, and Apple only reach $4.5 trillion, $4 trillion, and $3.7 trillion, respectively.
United States’ Position
The United States, home to two of the world’s top three most valuable companies (Alphabet and Apple), also holds the largest gold reserves globally, with 8,133 tonnes by 2023. Germany follows with 3,353 tonnes, and Italy with 2,452 tonnes.
Other Major Players
Following gold, silver, Nvidia, Alphabet, and Apple in market capitalization are companies like Microsoft ($3.7 trillion) and Amazon ($2.55 trillion), both based in the United States.
The eighth position shifts the dynamics of major global companies and assets like gold and silver, as it is occupied by the cryptocurrency market with a capitalization of approximately $1.74 trillion.
The ninth and tenth spots are held by TSMC ($1.72 trillion) and Meta Platforms ($1.6 trillion).
Reasons Behind Gold’s Surge
The recent rise in gold is primarily due to global geopolitical tensions, as it serves as a safe-haven asset during uncertainty. Unlike stocks, its value does not depreciate over time, prompting investors to diversify their portfolios with this metal.
Diego Palencia, vice president of research and strategy at Solidus Capital Banca de Inversión, explained that “the current geopolitical tension, resulting from confrontations with Venezuela, Iran, Ukraine, and the Middle East, has increased the volatility of major natural hedging instruments like gold.”
Global tensions aren’t the only factors making gold more attractive than other assets; the weakening US dollar in recent months has also encouraged investors to favor precious metals.
Jhon Torres Jiménez, macroeconomic analyst at NCM, reported that the dollar’s weakness stems from monetary expansion since the pandemic and persistent fiscal deficits in developed economies, especially the United States. This has reinforced the perception of gold as a value reserve against “monetary erosion” and currencies like the US dollar.
Gold can even gain ground against well-established stocks. Juan Pablo Vieira, CEO of JP Tactical Trading, stated that gold and silver do not depend on earnings, growth, or innovation like stocks do. Instead, they function as a value reserve, systemic insurance, and global financial collateral, while stocks represent future cash flows that can “change drastically with economic cycles.”
Gold Prices Skyrocket to $5,100
Reuters reported that gold prices extended their record-breaking rally, surpassing $5,100 as central banks and investors sought refuge from geopolitical risks and market volatility induced by US President Donald Trump.
At the start of the week, gold prices had already risen by 2.2%, reaching $5,093.96 per ounce after peaking at $5,110.5.
Gold surged 64% in 2025, its largest annual increase since 1979, breaking multiple records due to safe-haven demand.
Key Questions and Answers
- What is the significance of gold and silver’s capitalization surpassing Nvidia, Alphabet, and Apple combined? This indicates that investors are increasingly viewing precious metals as a safer alternative to stocks amid global geopolitical tensions and market volatility.
- Why are gold prices rising? The rise is primarily due to geopolitical tensions, making gold a more attractive safe-haven asset. Additionally, the weakening US dollar has encouraged investors to favor precious metals.
- What other major players are mentioned in the context of market capitalization? Companies like Microsoft and Amazon, along with cryptocurrency markets such as Bitcoin, are highlighted as having significant market capitalization.
