Gold has experienced a powerful rally adding an astonishing $1.5 trillion to its market capitalization in just one day. The precious metal broke through $5,500 per troy ounce, pushing its total market cap to around $34 trillion with the one-day gain nearly matching Bitcoin’s roughly $1.75 trillion market cap, according to Infinite Market Cap data.
Silver also posted strong gains, rallying 21.5% over the past week and reaching a market cap of about $6.6 trillion, further extending its lead over Nvidia, the largest publicly traded company.
This multi-month precious metals rally has been driven by what many investors call the ‘debasement trade,’ contrasting sharply with Bitcoin’s relatively weak performance. Bitcoin has struggled to gain traction since early October, when a crypto market crash wiped out more than $19 billion in positions.
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Gold’s latest milestone is simply the most recent sign of the strong momentum the precious metal has maintained since 2025. Over the course of that year, gold prices climbed by 64%, marking the metal’s biggest annual gain since 1979.
So far, 2026 appears to be continuing that trend. Within the month alone, gold has broken several records, surpassing its 2025 all-time high on January 6, 2026, when prices reached $4,497.20 per ounce.
Over a five-year period, gold has also outperformed Bitcoin, rising approximately 185.3% compared with Bitcoin’s 164% gain during the same timeframe.
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A recent Coinbase survey found that 71% of 75 institutional investors believe Bitcoin is undervalued when priced between $85,000 and $95,000, and around 80% said they would either hold or buy more crypto if the market fell another 10%, signaling long-term confidence in digital assets.
Investor sentiment shows a divergence as well: while the Crypto Fear & Greed Index sits in the “fear” zone, a gold sentiment index from JM Bullion registered in the “extreme greed” territory, highlighting the contrasting outlooks between the two assets.
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