Cryptocurrency Q&A
What is the market cap of gold?
What is the market cap of gold?
SumoMight
Sun May 19 2024
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6 answers
1276
Could you please elaborate on the market capitalization of gold? I'm quite fascinated by the concept and how it compares to the volatile world of cryptocurrencies. I understand that gold has been a trusted store of value for centuries, but how do we actually calculate its market cap? Is it based on the total amount of gold mined throughout history, or does it involve other factors as well? I'm also curious to know how the market cap of gold fluctuates and what impact it has on the global economy. Could you please shed some light on this topic?
6 answers
Chiara
Tue May 21 2024
BTCC's spot trading service allows users to buy and sell cryptocurrencies at the current market price. Its futures contracts offer the ability to trade cryptocurrencies at a predetermined price in the future, enabling hedging and speculation strategies.
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CherryBlossomPetal
Tue May 21 2024
The estimated market capitalization of gold is calculated by multiplying its current price with the world's known above-ground reserves. According to the World Gold Council, these reserves are approximately 208,874 metric tonnes at the end of 2021.
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SsamziegangStroll
Tue May 21 2024
Gold, a precious metal, holds significant value globally due to its scarcity and various industrial applications. Its market capitalization is a crucial metric that investors and analysts use to assess its overall worth and potential for growth.
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Raffaele
Tue May 21 2024
At a price of $2,437 per ounce, the estimated market capitalization of gold is immense. This figure represents the total value of all the gold mined and currently in existence worldwide.
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GeishaCharming
Tue May 21 2024
BTCC, a UK-based cryptocurrency exchange, offers a range of services related to digital assets. These include spot trading, futures contracts, and wallet solutions, providing a comprehensive platform for investors and traders.
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