Bitcoin Sideways, But Gold-Backed Cryptos Advance As Precious Yellow Metal Hits A Two-Week High

Posted On May 6, 2025

Risk-off sentiment returned ahead of the Federal Reserve’s policy meeting, sending gold and its cryptocurrency derivatives higher on Monday.

What happened: Spot gold was up 0.74% to $3,358.91 per ounce as of this writing, after hitting a two-week high earlier in the session.

The gains filtered down to physical gold-backed cryptocurrencies, spurring a 3% spike in Tether Gold and PAX Gold.

With the latest spike, the two coins extended their year-to-date …