PAX Gold

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Predicted performance
Price prediction in 3M

1,676.14 2.5%

Historical
Future
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What is PAX Gold all about

What is PAX Gold all about

All-Time High • Mar 09 2022

1,923.96

All-Time Low • Nov 18 2019

1,265.28

Market Cap

520,909,572

Market Cap 24h

-1,665,119 -0.32%

Total Volume

8,454,473

All Time High Change

-10.65%

All Time Low Change

+35.87%

Gold has been an important financial asset throughout the history of humanity. Universally regarded as a store of value, it is a precious and scarce material. Gold is the most recommended precious metal to diversify your investment portfolio with. It is also, of course, a physical asset.

The Paxos blockchain company decided to digitize gold. PAX Gold, or PAXG, is a gold-backed cryptocurrency, which launched in late 2019. PAXG is an ERC-20 token, which represents one troy ounce, or 31.10 grams, of gold. The gold provided by London Good Delivery which backs PAXG is a physical asset held in Brink's gold vaults. These assets have been accredited by the London Bullion Market Association. The Paxos Trust Company is a qualified custodian, regulated by the New York State Department of Financial Services.

Tokenizing physical gold using blockchain technology creates additional advantages for the gold asset. It allows for representing ownership of physical gold on a distributed ledger. PAXG holders can look up the serial number, value, and physical characteristics of their owned gold whenever they want. All they need to do is enter their Ethereum wallet address on the PAXG lookup tool. PAXG also comes with the ability to trade and exchange your assets, just like any other cryptocurrency, such as BTC. It also eliminates the problems of transportation and lowers the costs of storage.

Bars of gold are also expensive, one being usually worth about $600,000. As such it is nearly impossible for regular people to invest in gold bars. Paxos's gold is tokenized and each PAXG token can be divided into units up to 18 decimal points. This means that anyone can purchase a portion of a secured gold bar. If any user owns enough PAXG tokens to represent a whole gold bar, they can exchange them for a physical bar of gold. PAXG is represented by gold with a 1:1 ratio. The total supply of underlying gold is not fixed and changes constantly. As the market cap of PAXG increases or decreases, so does the amount of stored gold.

Whenever PAXG tokens are transferred on the Ethereum network Paxos charges a small transaction fee of 0.02%. The Ethereum network also charges the standard network gas fees.

PAX Gold Profit Calculator

PAX Gold Profit Calculator

Date of investment

15.09.2019

Initial investment

EUR

Bought

PAXG
NaN%

Today's value would be

0
26.81%
Investment
Profit
Questions & Answers

PAXG Questions & Answers

What is the price of PAX Gold today?

Osom expert

Price of PAX Gold today is 1719.09 EUR.

At what point did PAX Gold's price reach its highest?

Osom expert

We saw the highest spike in the price of PAX Gold on 2022-03-09, at 1923.96 EUR.

What price will PAX Gold reach 6 months from now?

Osom expert

It is very difficult to predict the future accurately, however based on our prediction algorithm we suspect that PAX Gold's cost is likely going to be between €1444.61 and €1818.76 six months from now.

What is the popularity of PAX Gold on social media?

Osom expert

0 individuals engaged in discussing PAX Gold online on Reddit in the last 2 days. PAX Gold's Twitter handle is followed by 0 users.

Is PAX Gold expected to increase in value 90 days from now?

Osom expert

On the basis of our price prediction we expect that PAX Gold's price will reach anywhere between €1579.90 and €1756.80 in 3 months time.

Is PAX Gold going to cost more in 1 month?

Osom expert

On the basis of our price prediction algorithm we expect, that PAX Gold's value will reach anywhere between €1643.88 and €1738.35 in one month time.

Questions & Answers form

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10 days PAX Gold price forecast

10 days PAX Gold price forecast

DayPrice PredictionChange
2022-10-051,680.98-2.22%
2022-10-061,682.88+0.11%
2022-10-071,683.86+0.06%
2022-10-081,684.2+0.02%
2022-10-091,685.81+0.1%
2022-10-101,684.59-0.07%
2022-10-111,683.4-0.07%
2022-10-121,683.52+0.01%
2022-10-131,684.79+0.08%
2022-10-141,685.11+0.02%

Long term PAX Gold price prediction

MonthPrice PredictionChange
November 221,695.07-1.4%
December 221,648.85-2.73%
January 231,679.03+1.83%
February 231,645.56-1.99%
March 231,647.32+0.11%
April 231,634.75-0.76%
May 231,655.36+1.26%
June 231,627.06-1.71%
July 231,600.26-1.65%
August 231,610.96+0.67%
September 231,590.86-1.25%
October 231,556.23-2.18%

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