Gold rallies 4.4% in strongest session since February while Bitcoin stalls

Gold delivered one of its best daily performances of 2026, rising 4.4% to approximately $4,257 per ounce. US gold futures advanced roughly 4% to over $4,317. The move was the strongest since February.

Bitcoin, by contrast, achieved only a modest recovery despite conditions that traditionally support the asset. The contrast is notable: based on the World Gold Council's estimate of 219,891 tonnes of gold above ground at the end of 2025, the 4.4% daily gain translates to roughly $1.3 trillion in theoretical value—almost equal to Bitcoin's entire market capitalization.

The distinction reflects how market capitalization works: when the price of an asset rises across its full estimated supply, the theoretical value of all existing units increases, even if the actual capital deployed is much smaller.

Gold's advance stemmed from multiple factors. Negotiations between the United States, Iran and Oman reduced geopolitical tensions and pushed oil prices lower, easing inflation concerns. The prospect of reopening the Strait of Hormuz alleviated energy shortage fears. These developments weakened the case for additional Federal Reserve rate increases, sending the US 10-year Treasury yield toward 4.60%. Non-yielding assets like gold became relatively more attractive as bond yields fell.