Gold and silver briefly reclaimed their spot as the two biggest assets by market capitalization as the new year rolled in with uncertainty.
According to data from analytics platform CompaniesMarketCap, gold currently has a market cap of $31.1 trillion, sitting at the top spot.
Silver, which has been trading places with Nvidia for second place since December, flipped Nvidia briefly, only to be overtaken again at the time of publication.
Silver and Nvidia are almost neck and neck. Source: CompaniesMarketCap
Nvidia is seeing a gold rush of its own amid strong demand for computing resources to support artificial intelligence.
There has been a flight to precious metals over the past year, with investors seeking out the traditional stores of value for safety amid global conflicts and trade disputes.
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Meanwhile, investors are also expecting potentially significant rate cuts from the US Federal Reserve under its new chair, which is also likely driving investors to commodities such as gold and silver.
The increased demand has seen gold and silver recently tag new all-time highs of around $4,500 and $80, and while this momentum hasn’t yet swung to Bitcoin and crypto, there is a feeling that it might not be far off.
In a recent interview, Owen Lau, the managing director of Clear Street, argued that the Fed’s monetary policy decisions in 2026 will be “one of the key catalysts for the crypto space.”
Lau asserted that lower rates would spark a hunger among retail and institutional investors for risk assets, such as digital gold.
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