{"id":11539,"date":"2025-02-05T16:47:07","date_gmt":"2025-02-05T16:47:07","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=11539"},"modified":"2025-02-05T16:47:07","modified_gmt":"2025-02-05T16:47:07","slug":"gold-backed-cryptocurrencies-surge-as-precious-metal-hits-record-amid-trade-war-worry","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=11539","title":{"rendered":"Gold-Backed Cryptocurrencies Surge as Precious Metal Hits Record Amid Trade War Worry"},"content":{"rendered":"
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Gold-backed cryptocurrencies are outperforming the wider market amid a historic rally for the precious metal, which is up around 9.7% so far this year to a new record of $2,880 per ounce amid growing trade war tensions.<\/p>\n

PAX gold (PAXG) and Tether gold (XAUT) have benefitted greatly from the precious metal\u2019s rise, both rising roughly 10% in line with the spot price of gold. Each of these tokens is backed by one troy ounce of gold stored in a vault.<\/p>\n

Unsurprisingly, in the traditional market, gold miners’ stocks have also surged. VanEck Gold Miners ETF (GDX), an exchange-traded fund (ETF) that tracks gold miners, has risen nearly 20% this year, outperforming the S&P 500. <\/p>\n

The price action has seen the supply of these tokens grow, with token mints outpacing burns by millions of dollars weekly. Transfer volumes for gold-backed cryptocurrencies, according to RWA.xyz data, have meanwhile surged more than 53.7% month over month.<\/p>\n

Gold\u2019s price has risen this year over tariff threats from both the U.S. and China, the Spring Festival holidays in the latter country and a broader trend of growing demand. Last year, demand for the precious metal hit 4,945.9 tons, worth around $460 billion, according to the World Gold Council<\/a>.<\/p>\n

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Meanwhile, most major cryptocurrencies have struggled so far this year. Bitcoin saw a modest 3.6% rise, leading the bitcoin-gold ratio to a 12-week low<\/a>, while ether is down more than 17.6%. The CoinDesk 20 index<\/a> is up just around 0.5%.<\/p>\n

\u201cGold\u2019s rally and bitcoin\u2019s dip aren\u2019t a failure of the ‘digital gold’ narrative \u2014 they\u2019re a setup,\u201d Mike Cahill, core contributor to the Pyth Network, told CoinDesk in a written statement. \u201cRight now, trade war fears and a strong dollar are fleeing a flight to traditional safe havens, but once liquidity returns and risk appetite rebounds, bitcoin could catch up in a big way.\u201d<\/p>\n

\u201cSmart investors know BTC is still the hardest asset next to gold, and when Trump\u2019s pro-crypto stance materializes into actual policy, bitcoin stands to benefit massively,\u201d he said.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Gold-backed cryptocurrencies are outperforming the wider market amid a historic rally for the precious metal, which is up around 9.7% so far this year to a new record of $2,880 per ounce amid growing trade war tensions. PAX gold (PAXG) and Tether gold (XAUT) have benefitted greatly from the precious metal\u2019s rise, both rising roughly […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-11539","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/11539","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11539"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/11539\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}