PAX Gold (PAXG) Price, Market Cap & Coin Guide

PAX Gold (PAXG) is a digital token that represents ownership of physical gold. Each PAXG token corresponds to one fine troy ounce of gold stored in professional vaults, allowing investors to hold and transfer gold exposure on-chain without dealing with physical bars directly.

PAXG was launched in September 2019 by Paxos Trust Company, a regulated financial institution. It is issued as an ERC‑20 token on Ethereum, enabling integration with wallets, exchanges and DeFi protocols while maintaining a direct link to allocated physical gold.

By category, PAXG is a commodity‑backed token (gold‑backed stablecoin). Unlike dollar‑pegged stablecoins, its value tracks the price of gold rather than a fiat currency, offering exposure to a traditional store of value in a digital, divisible and transferable form.

The gold backing PAXG must meet the London Good Delivery standard set by the London Bullion Market Association (LBMA). Reserves are held in secure vaults in London under the care of Paxos and its custodians, and each token is linked to specific allocated gold bars.

Holders can, under the issuer’s terms, redeem PAXG for physical gold or cash equivalents, typically in full bar increments, though most users interact with PAXG as a tradable digital asset rather than for physical delivery.

The PAX Gold price chart shows how PAXG has traded over different timeframes, from short‑term moves to multi‑year trends. Because PAXG is designed to track the price of gold, its chart closely mirrors the behavior of spot gold (XAU/USD), with minor deviations due to liquidity, premiums/discounts and market structure.

Short intervals like 24H and 7D highlight near‑term volatility driven by gold prices, macro data and risk sentiment, while 1Y and ALL views reflect longer‑term trends in the gold market since PAXG’s launch.

The chart should be treated as a reflection of gold’s price dynamics in tokenized form, not as an independent speculative asset with its own fundamental trajectory separate from physical gold.

PAX Gold (PAXG) is a gold‑backed digital token. Each full PAXG token represents ownership of one fine troy ounce of physical gold held in secure LBMA‑accredited vaults in London. The gold must meet London Good Delivery standards, the same benchmark used in professional bullion markets.

PAXG allows users to gain exposure to gold without buying, storing and insuring physical bars themselves. Instead, ownership is recorded on the Ethereum blockchain, making it easy to transfer, divide and trade globally.

Key characteristics:

• 1:1 gold backing: one PAXG = one fine troy ounce of physical gold.

• Allocated reserves: each token is linked to specific gold bars, not a generic pool.

• Divisibility: PAXG can be divided into small fractions (up to 18 decimals), enabling fractional ownership of gold.

• On‑chain transparency: holders can verify their associated gold bars via the issuer’s lookup tool using their wallet address.

PAXG is issued and managed by Paxos Trust Company, a regulated entity overseen by the New York State Department of Financial Services. It combines the traditional role of gold as a store of value with the efficiency and accessibility of blockchain technology.

PAXG is a token, not a native coin, because it is issued on top of an existing blockchain (Ethereum) rather than running on its own standalone chain.

PAX Gold operates through a mint‑and‑redeem model tied to physical gold:

• Gold deposit: eligible participants deposit LBMA‑standard gold bars with the custodian in London.

• Token issuance: once the gold is verified and allocated, Paxos mints an equivalent amount of PAXG tokens on the Ethereum blockchain.

• Trading and transfers: users can buy, sell and transfer PAXG like any other ERC‑20 token, using compatible wallets and exchanges.

• Redemption: under the issuer’s terms, PAXG holders can redeem tokens for physical gold or cash equivalents, typically in full bar increments, subject to minimums and procedures.

Each PAXG token represents an undivided ownership interest in identifiable gold bars. The issuer maintains a public record linking wallet addresses to specific bars (by serial number, weight and purity), allowing holders to verify their underlying assets.

Because PAXG runs on Ethereum, it can be:

• Stored in standard ERC‑20‑compatible wallets.

• Traded on centralized and decentralized exchanges that list PAXG.

• Used as collateral or integrated into DeFi protocols that support the token.

The value of PAXG tracks the market price of gold. If gold rises, PAXG’s price in USD tends to rise proportionally; if gold falls, PAXG’s price typically declines in line with the metal.

Reserves backing PAXG are subject to regular third‑party attestations and audits to confirm that the number of tokens in circulation matches the amount of gold held in custody.

PAXG’s tokenomics are directly tied to the amount of physical gold held in reserve. There is no fixed maximum supply in the traditional crypto sense; instead, supply expands and contracts with gold deposits and redemptions.

Key aspects:

• Backing ratio: each PAXG token is intended to be backed 1:1 by one fine troy ounce of physical gold.

• Minting: new PAXG is created when gold is deposited and verified by the custodian.

• Burning / redemption: when holders redeem PAXG for physical gold or cash, the corresponding tokens are removed from circulation.

• Supply dynamics: total and circulating supply reflect the net amount of gold tokenized at any given time.

Unlike algorithmic tokens or fiat‑stablecoins with complex emission schedules, PAXG’s supply is driven by real‑world gold flows:

• More gold deposited → more PAXG minted.

• More redemptions → more PAXG burned.

The issuer publishes periodic attestations and reports on reserves to confirm that outstanding PAXG is fully backed by allocated gold. This transparency is central to the token’s value proposition as a digital proxy for physical bullion.

There is no team allocation, inflation schedule or pre‑mined supply beyond what corresponds to actual gold in custody. Every token exists because someone paid full value for physical gold.

PAX Gold (PAXG) is available on selected centralized and decentralized exchanges. A typical path to buying PAXG looks like this:

1. Create an account on an exchange that supports PAXG, or connect an Ethereum‑compatible wallet to a DEX that lists PAXG.

2. Complete any required identity verification if using a centralized platform.

3. Deposit fiat currency or another cryptocurrency, such as USDT, USDC or ETH.

4. Search for PAXG and choose a trading pair like PAXG/USD, PAXG/USDT or PAXG/ETH.

5. Place a market order to buy instantly or a limit order at a chosen price.

After purchasing PAXG, users can keep it on the exchange for short‑term trading or withdraw it to a non‑custodial wallet that supports ERC‑20 tokens.

PAXG can be stored in any wallet that supports Ethereum and ERC‑20 tokens. These include exchange wallets, browser and mobile wallets, and hardware wallets integrated with Ethereum.

For holding:

• Exchange wallets are convenient for active traders but place custody with the platform.

• Non‑custodial wallets allow users to control their private keys and interact directly with Ethereum dApps and DeFi protocols.

• Hardware wallets offer an extra security layer by keeping private keys offline, while still enabling interaction with Ethereum‑based applications through compatible software.

Good practices:

• Use wallets that clearly support ERC‑20 tokens and display PAXG correctly.

• Back up seed phrases and private keys securely.

• Double‑check network (Ethereum), addresses and gas settings before sending PAXG.

• Be cautious of phishing sites and fake tokens that mimic PAXG.