Commodities Buzz: Gold market capitalization zooms above $30 trillion, metal becomes first asset to reach the milestone

Following the sustained surge in last few days and a massive 2.50% jump in last session to a fresh record high, gold has become the first global asset to surpass the $30 trillion market cap threshold. This figure is calculated by the World Gold Council using the total amount of mined gold and real-time gold prices. According to the latest data released earlier this year by the World Gold Council, the total amount of mined gold globally is approximately 216,265 tons and 1 ton of gold equals about 32,150.7 ounces. Gold has soared nearly 65% this year. The metal currently trades up 1.70% at $4378 per ounce.

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