PAX GoldPAXG

PAX Gold (PAXG) is a token that represents ownership of physical gold. It was launched in 2019 by Paxos, a regulated US trust company, and it is an ERC-20 token on Ethereum. Each PAXG token represents one fine troy ounce of gold, so its price follows the market price of gold instead of the US dollar.

Paxos says the gold behind PAXG consists of London Good Delivery gold bars that are stored in professional vaults and held in custody by Paxos. The gold is allocated, which means that specific bars are set aside for the tokens. A lookup tool on the Paxos website lets a holder enter an Ethereum wallet address to see the serial numbers and weights of the bars that back the tokens. Tokens can be redeemed through Paxos for gold or for dollars. Because PAXG is a token on a public blockchain, it can be sent at any time of day and in fractions of an ounce.

PAXG is used to hold and move a gold-linked asset onchain, for payments and settlement, and as collateral or a trading pair on crypto platforms. It belongs to the market for tokenized commodities. Other gold tokens, such as Tether Gold (XAUT), work in a similar way.

PAXG has no fixed maximum supply. Paxos creates new tokens when gold is added and removes them when tokens are redeemed, so the number of tokens follows the amount of gold held in custody. Current circulating and total supply figures are shown at the top of this page.

The price of PAXG moves with the price of an ounce of gold, so its chart follows the gold market. You can see the all-time high and the full price history on the chart above.

Cointelegraph's PAX Gold price index gives you the current PAXG to USD price and the numbers behind it: market cap, 24-hour volume, all-time high and year-to-date performance. Explore the price chart across six timeframes and use the PAXG to USD converter for quick calculations. For market updates, see our markets news page.