this post was submitted on 03 Feb 2026
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It doesn’t. It means the dollar is strong and people no longer want to invest in “alternatives”.
Unless you have a bunch of gold, then yeah… it affects you lol
Edit: also, gold doesn’t really have a “market cap”. We would need to know exactly the amount of gold on our planet to calculate a market cap
Maybe the market cap in this graph is the total amount of gold extracted.
That would be my guess. But do we even know that precisely?
We actually have a decent idea, around 219,890 tons.
https://www.gold.org/goldhub/data/how-much-gold
The gold market cap has always been the approximate amount of gold that has been extracted. While I don't think anyone can give you an actual precise number, the approximate number is pretty widely known and tracked as we extract more.
The dollar still isn't much different than it was a month ago. The bet is less on how strong the dollar is than how stable the stock market is going to be in the near future. And apparently people expect a relatively stable stock market.
Either way, this fluctuation doesn't even matter if you hold gold unless you engage in short-term trading. Anyone with a "sit on it" strategy can pretty much ignore such behavior.