Gold market cap
As of 3 Oct 2026, gold has an estimated total value of $28.8T, based on estimated above-ground stock multiplied by a backed-token price proxy.
- Estimated market cap
- $28.8T
- Price per troy ounce (proxy)
- $4,143.63
- Above-ground stock
- 216,265 tonnes
How is gold’s market cap calculated?
Estimated total value = 6,953,071,135.5 troy ounces × $4,143.63 per ounce. This values the estimated metal stock; it is not the market cap of a mining company, ETF or backed token.
Supply source: World Gold Council, above-ground stocks (2024 estimate). Gold is not consumed, so nearly all metal ever mined still exists, which makes above-ground stock a sound basis for a total value.
The price is derived from PAX Gold and Tether Gold via CoinGecko, using 2 available backed-token sources. Token prices can trade above or below the underlying metal; this is not a direct bullion spot quote.
Full methodology and data sources