As of January 18, 2025, Binance offers trading for gold-backed tokens such as PAX Gold (PAXG) and Tether Gold (XAUt), which are digital assets pegged to the price of physical gold. These tokens allow traders to gain exposure to gold without holding the physical commodity.
PAX Gold (PAXG):
Price: $2,704.87 per PAXG
Market Cap: $540.86 million USD
24-Hour Trading Volume: $16.32 million USD
Tether Gold (XAUt):
Price: $2,695.55 per XAUt
Market Cap: $664.52 million USD
24-Hour Trading Volume: $8.36 million USD
These tokens are designed to mirror the price movements of physical gold, providing a digital avenue for gold investment. It's important to note that the prices of these tokens are influenced by the global gold market and can be affected by factors such as U.S. dollar strength, inflation rates, and geopolitical events. For instance, gold prices often have an inverse relationship with the U.S. dollar; when the dollar strengthens, gold prices may decline, and vice versa.
For real-time price charts and technical analysis of gold's performance against the U.S. dollar, platforms like TradingView offer comprehensive tools.
