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Risk-off sentiment returned in the market, sending gold and its cryptocurrency derivatives slightly higher on Monday.
Spot gold was up 0.20% to $3,372.88 per ounce as of this writing, after crossing $3,380 earlier in the day.
The gains filtered down to physical gold-backed cryptocurrencies, with Tether Gold and PAX Gold up 0.23% each in the last 24 hours. In fact, the two coins were the market’s biggest gainers in the 24-hour period.
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The latest spike pushed their returns in 2025 past 28%, aligning with that of spot gold.
|
Cryptocurrency |
24-hour Gains +/- |
YTD Gains +/- |
Price (Recorded at 11:00 p.m. ET) |
|
Tether Gold (CRYPTO: XAUT) |
+0.23% |
+28.58% |
$3,370.03 |
|
PAX Gold. (CRYPTO: PAXG) |
+0.23 |
+28.25% |
$3,363.24 |
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Their gains contrasted with the decline in large-cap cryptocurrencies like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), which tumbled 3.23% and 7.77%, respectively, in the last 24 hours. Notably, Bitcoin was up only 17% year-to-date.
Additionally, major stock indexes, such as the Dow Jones Industrial Average and the S&P 500, closed lower.
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The correction wiped out Friday’s gains in stocks and cryptocurrencies, following Federal Reserve Chair Jerome Powell’s dovish Jackson Hole speech.
Photo: oekka.k on Shutterstock.com
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This article Bitcoin, Ethereum Plunge Defied By These Gold-Backed Cryptos Today — This Is How Much Tether Gold And Pax Gold Have Gained In 2025 originally appeared on Benzinga.com
