Gold, one of the oldest and most valuable assets in human history, holds a significant position in global finance. Unlike traditional companies with shares traded on stock markets , gold’s market cap refers to the total value of all gold in circulation worldwide. How Gold’s Market Cap Is Calculated The market cap of gold is derived from its above-ground supply, which includes gold stored in central banks, private reserves, and jewelry. Current estimates place this supply at around 244,000 metric tons . Bear in mind, however, that the total amount fluctuates from source to source by as much as 20%. We arrive at the market cap figure by multiplying this quantity by the current gold price per ounce (approximately $2,600 per ounce in 2024). Gold’s market cap fluctuates based on two primary factors: changes in the global supply of gold and shifts in its price due to demand dynamics. Various economic conditions, including inflation, currency strength, geopolitical uncertainties, and...

NFTs have been the talk of the creative and entertainment industries for the last few months and now rapper Waka Flocka is getting in on the action too. In April, news circulated that the Hip-Hop superstar entered a partnership to create Satoshi Art — an all-new 100% minority-owned NFT platform that’s bringing monetary profits to creative artists worldwide. Through this new company, Flocka is aiming to empower Black artists and their work by introducing them to a new revenue stream to profit off their intellectual property. In speaking with Flocka, he shared with AfroTech that he came across NFTs through his own research and knowledge. “It comes easy when you’re a nerd,” he tells us. “You’re hip to everything people don’t believe in, and then by the time they get on it history is made. I learned in my earlier years, to be a smart person you have to know when you meet another genius.” In this instance, Flocka is referring to his business partner Stally — a certified cryptocurrency...

“Just answer yes or no,” California Rep. Maxine Waters repeatedly said in a recent hearing, “I’m reclaiming my time.” This was Waters’ mood the entire time she questioned Robinhood CEO Vlad Tenev during the “Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide,” virtual hearing on Thursday, Feb. 18. Tenev and a group of other CEOs and financial experts were called to testify before the U.S. House Committee on Financial Services following the events of the stock market frenzy on Jan. 25. That frenzy came after the Reddit group of young day-to-day traders called WallStreetBets caught wind of hedge fund short sellers in GameStop last month. When WallStreetBets shared its findings on Reddit, retail investors began grabbing GameStop stock up, driving its share price through the rough, and ultimately costing some hedge funds millions of dollars. Check out what Black millennials had to say about this debacle. Despite this being absolutely legal,...