Gold-Backed Tokens Show Resilience Amid $19B Crypto Liquidation

2025-10-11 20:15

Gold-backed tokens PAXG and XAUT demonstrated resilience during a $19 billion crypto liquidation on October 11, 2025. While major cryptocurrencies like Bitcoin and Ether experienced significant declines, the broader market fell by 12.75%. In contrast, PAXG dipped only 0.23%, and XAUT increased by 0.2%, reflecting gold's price stability near $4,018 per troy ounce. Despite this performance, the World Gold Council has indicated that gold's eight-week rally has led to 'overbought' conditions, suggesting a potential market correction could be imminent.

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