Holy sh... - Gold! (Sorry...)
$PAXG (+0.86%) Gold-backed cryptocoin, which also tracks the gold price 1:1 over-the-counter, briefly rose yesterday evening: 3300 USD/oz (+41%)! The price is now back at USD 2480 (+6%). But the fact that such a jump is possible at all shows how tight the gold market is at the moment.
Addendum: PAXG is currently at 2330€/ oz. 1oz Krugerrand is currently available online for under 2200€. Free money? The problem: $XAUT (+0.78%) stands at 2220€/oz. What's going on?
Each XAU₮ token represents ownership of one troy fine ounce of physical gold on a specific gold bar. XAU₮, which is available as an ERC-20 token on the Ethereum blockchain and as a TRC20 token on the TRON blockchain, can be transferred to any on-chain address from the purchasers’ Tether wallet. Furthermore, Tether Gold (XAU₮) is the only product among the competition that offers zero custody fees and has direct control over the physical gold storage, safely held in a Switzerland vault, adopting best in class security and anti-threat measures. Today, Tether Gold (XAU₮) is the best way to hold Gold.
