TechFlow News: On January 30, according to JIN10 Data, the market capitalization of gold plunged by $3.5 trillion. From late January 29 to daytime January 30 (Beijing Time), the international spot gold price fell from a record high of nearly $5,600 per ounce to below the $5,000-per-ounce threshold—a decline of approximately 10%. Based on an estimated total global gold market capitalization of roughly $35 trillion, this represents a loss of about $3.5 trillion—equivalent to roughly twice Bitcoin’s total market capitalization.
Moreover, this $3.5 trillion loss is equivalent to:
- The size of “France”: According to IMF data (in USD), $3.5 trillion exceeds the projected full-year 2025 GDP of France, Italy, Russia, and Canada combined; it reaches nearly 70% of Germany’s 2025 GDP—and even surpasses the entire African continent’s projected 2025 economic output by 25%. If this $3.5 trillion loss were treated as an independent “economy,” its scale would rank seventh globally.
- 5% of the U.S. stock market: As of 2025, the total market capitalization of all U.S.-listed companies stands at approximately $69 trillion; $3.5 trillion accounts for roughly 5%—comparable to an entire major sector. In terms of individual company valuations, $3.5 trillion exceeds Microsoft’s market capitalization and falls just short of Apple’s, ranking fourth globally.
- Near-total collapse of the UK stock market: According to CEIC data, the UK stock market’s total market capitalization stood at approximately $4 trillion as of December 2025; $3.5 trillion thus constitutes nearly 90% of that figure.
- “Wiping out” the wealth of top billionaires: Per the Forbes Billionaires List, the combined net worth of the world’s top 10 wealthiest individuals totals approximately $2.6 trillion. The $3.5 trillion gold market cap loss therefore exceeds their collective wealth by roughly 35%, and is more than four times the net worth of the world’s richest person, Elon Musk (approximately $760 billion).
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