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Tokenized gold assets PAXG and XAUT plummet to 90-day lows
- Tokenized gold assets Pax Gold and Tether Gold plummeted to multi-month lows, moving in tandem with the broader crypto market sell-off.
- Both PAXG and XAUT fell nearly 15% over 30 days to close at $4,050.14 and $4,040.49 respectively on June 10, showing a strong 0.87 correlation with Bitcoin.
- This high correlation indicates that tokenized gold is currently behaving as a volatile risk asset rather than a traditional safe haven.
Supporting datasets
Supporting queries
To surface this insight, Baselight ran 2 queries across its structured data. Each one is reproducible — open it, read the SQL, and rerun it yourself.
Conclusion
PAXG-USD closed at $4,050.14 and XAUT-USD closed at $4,040.49 on June 10, marking new 90-day lows for both. Over the 30-day period from May 11 to June 10, PAXG-USD fell 14.84% (down from $4,756.13) and XAUT-USD fell 14.98% (down from $4,752.31). The correlation between PAXG-USD and BTC-USD over this 30-day period is 0.866.