What is the value of gold in the world? A new record has arrived: $20 trillion!
李四哥
发表于 7 天前
1217
0
0
As the international gold price continues to reach new highs approaching $2700, the precious metal market is also setting a new "milestone": the total market value of global physical gold has exceeded the $20 trillion mark for the first time!
Jeroen Blokland, founder of Blokland Intelligent Multi Asset Fund, was the first to notice this phenomenon in the entire financial market.
Blokland tweeted on Wednesday, "The real-time market value of gold has surpassed $20 trillion for the first time!" accompanied by a chart of gold market value changes produced by the institution.
Blokland has been closely monitoring every move in the precious metal market for many years. He pointed out several times earlier this year that some common websites in the current market are lagging behind in their statistics on changes in gold market value.
For example, in the well-known market value statistics website Company Smart Cap, the latest statistics on gold market value still remain at $18.019 trillion, but Blokland has repeatedly pointed out that the relevant figures are too low because the above ground gold stock data used by Company Smart Cap is still the old data from the World Gold Council three years ago (2021).
So, how is it calculated that the current market value of gold has exceeded the $20 trillion mark?
The answer is actually quite simple. According to the latest data released by the World Gold Council in February this year, as of the end of 2023, the global mined gold stock was 212582 tons. Converted to ounces (1 ton=35273.96 ounces) and multiplied by the current gold price (which reached a high of $2670 on Wednesday), this figure has already exceeded $20 trillion.
Undoubtedly, for the precious metal market, this number is clearly a milestone worth celebrating.
What is the purchasing power of $20 trillion in gold? If compared to the stock market, the world's gold can almost buy up the top ten listed companies in the world - equivalent to the total market value of Apple, Microsoft, Nvidia, Amazon, Google, Saudi Aramco, Meta, Berkshire Hathaway, TSMC, and Eli Lilly.
From the changes in market value over the years, the past four years have undoubtedly been the four years of soaring gold market value.
Before the outbreak of the pandemic in 2020, the total market value of gold had not actually exceeded $10 trillion. However, in recent years, this ancient and eternal asset has written a new miracle of price surge.
Despite the tightening cycles of global central banks in the past few years, which logically did not benefit gold as an interest free asset, gold has not stopped rising. The strong central bank purchases and increasingly tense geopolitical situation have continuously driven the demand for safe haven and diversified allocation of gold, thereby also supporting the gold price.
As the Federal Reserve and other central banks around the world have recently entered a new easing cycle, the price of gold has undoubtedly been further boosted. Since the beginning of this year, the price of gold has risen by nearly 30%, the largest year-on-year increase in the past 30 years.
UBS analysts stated in a report last month that "despite hitting multiple new highs this year and outperforming major stock indices, we believe there is still room for gold prices to rise in the next 6 to 12 months. We believe key factors include the recovery of large-scale inflows of exchange traded fund (ETF) funds, which has been lacking since April 2022
Many analysts have stated that the inflow of funds into gold listed exchange traded funds (ETFs) in the coming months, especially from Western investors, is expected to increase, which could add more positive stimulus to the already record high gold price.
Many Wall Street institutions have also raised their gold price targets to the $3000 mark.
Michael Widmer, a commodity strategist at Bank of America, wrote in a recent report to clients that factors such as increased investment demand, geopolitical tensions, interest rate cuts, and central bank purchases of gold could all boost gold prices. Bank of America expects gold prices to reach $3000 per ounce in the next 12 to 18 months.
CandyLake.com 系信息发布平台,仅提供信息存储空间服务。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
猜你喜欢
- September Curse ": The US stock market felt it on its first day!
- Buying a car and getting a plane! The pre-sale price of Xiaopeng Huitian Flying Car's' Land Carrier 'at the end of the year will not exceed 2 million yuan
- Are bulk commodities at the 'turning point'? Goldman Sachs' latest perspective is here!
- Apple removes iPhone 15 Pro series from official website! Apple's first AI phone has received negative reviews from foreign media!
- The biggest iPhone 16 in history is here! Add quantity without adding price
- Disney's plan to expand consumer goods overseas: Nearly 70 Asia Pacific partners engage in cross-border business
- The Hong Kong Stock Exchange will undergo new changes! Did Xiaomi SU7 smoke in the accident? Response has arrived! Microsoft announces up to $60 billion buyback plan
- Alibaba, Wal Mart and Kwai are here... The highlights of Global Digital Trade Expo are the first to see
- Will the recession come? Americans are in the "richest" period in history thanks to real estate and stocks!
- Is the AIDS Terminator Coming? Gilead's new HIV prevention drug clinical data disclosure shows an effective rate of nearly 100%, requiring only 2 doses per year
-
10月1日,国内造车新势力纷纷公布2024年9月交付数据。 据蔚来汽车公告,2024年9月交付汽车21,181辆,同比增长35.4%。截至2024年9月的三个月,交付了汽车61,855辆,同比增长11.6%。截至2024年9月30日,全年 ...
- hzhik
- 昨天 19:12
- 支持
- 反对
- 回复
- 收藏
-
继小鹏汽车将其智驾车型MONA M03切入A级车市场后,广汽埃安也迅速跟进,推出了同类智驾车型AION RT。据悉,AION RT作为广汽埃安的第二款全球车型,依据续航里程和智能驾驶能力,共推出了四个版本:520智享版、65 ...
- moonlightplay
- 3 天前
- 支持
- 反对
- 回复
- 收藏
-
据央视新闻,当地时间9月30日,美国国家运输安全委员会表示,超过40家外国航司正在使用的波音737飞机的方向陀控制系统可能有潜在安全风险。 美国家运输安全委员会透露,该部门已获悉有两家外国运营商在201 ...
- shenhancz
- 昨天 10:22
- 支持
- 反对
- 回复
- 收藏
-
10月1日,理想汽车公布2024年9月交付数据。2024年9月,理想汽车交付新车53,709辆,同比增长48.9%。2024年第三季度,理想汽车交付152,831辆,同比增长45.4%。截至2024年9月30日,理想汽车2024年共交付341,812辆, ...
- wpx
- 昨天 15:46
- 支持
- 反对
- 回复
- 收藏