While major cryptocurrencies fell sharply following the weekend’s geopolitical escalation, gold-backed stablecoins moved in the opposite direction.
PAX Gold (PAXG) jumped nearly 7% to trade around $5,540, while Tether Gold (XAUt) rose roughly 5.5% to about $5,458.
Read also: How to Invest in Gold: From Coins and Bars to Crypto Tokens
Trading Above Friday’s Gold Close
Both tokens are designed to track the price of physical gold. However, their current prices differ and sit well above Friday’s official gold close near $5,274.
The premium suggests that crypto traders may be anticipating a significant move higher in gold once traditional commodity markets reopen. With stock and futures markets closed over the weekend, tokenized gold has become one of the few available instruments for immediate safe-haven positioning.
Read also: Bitcoin Drops Below $64K as Middle East Tensions Shake Crypto Markets
Pricing in Monday’s Open
Gold has historically attracted demand during periods of geopolitical uncertainty. The surge in PAXG and XAUt appears to reflect expectations that gold futures could gap higher when trading resumes.
At the same time, crypto markets operate with thinner liquidity over weekends, which can amplify price swings. As a result, some of the premium may reflect short-term demand imbalances rather than confirmed spot price movements.
Whether the higher pricing holds will depend on how gold futures react on Monday. A sharp rise in traditional markets could validate the move. If geopolitical tensions ease and gold opens closer to Friday’s levels, the premium in tokenized versions may compress quickly.
