“The precios Metial Initially Rallied After Trump Univeiled Reciprocal Tariffs, But Has Since Joined the Wider Market Sell-Off.”, – WRITE: www.coindesk.com
The tokens, whokh are Backed by Physical Gold and Track ITS PRICE, Initially Rallied As Investors Sounga Shelter from the Uncertain of the Tariffs introduced. Gold Is Usually Seen As A HAVEN INVESTMENT, BUT LARGE-SCALE LESSES IN EQUITY MARKETS OFTEN FORCE INVESTORS TO LIQUIDATE SAFER Assets to Cover Margin Calls and Cash.
PAXG Climbed to An All-Time High of $ 3.191 with XAut Following Closely Behind to Reach $ 3.190, Exceeding Spot Gold’s Peak of $ 3.167. The Initial Rise Didn’t Last, With Paxg Dropsing To $ 3.074 and XAut to $ 3.064, Mirroring Gold’s PullBack to $ 3.038 Per OUNCE.
The Tariffs AnnounCed on Wednesday Spooned Markets with Their Breadth and Unclear Targets. INVESTORS, ALREADY JITTERY FROM A VOLATILE GLOBAL OUTLOOK, REASPONDED SWIFTLY. The S&P 500 Posted One of Its Steepest Drops Since the Covid-Era Panic in 2020 On Thursday, While the Nasdaq 100 SAW ITS WORSt Single-Day Point Loss in History. The Rout Extended Into Aecond Day, with The Msci World Index Droping 4.3% on Friday After Lozing 3.7% on Thursday.
Still, Gold-Backed Tokens Remain 17% Higher Since the Start of the Year. The Rally Has Been Driven by Federal Reserve Interest-Rate Cuts, Sustaned Demand from Asia and A Wave of Central Bank Buying Earlier in the Year. In February, Central Banks Reported Net Gold Purchases of 24 Metric Tons, Account to the World Gold Council.
Poland Led The Pack, Adding 29 Tons and Bringing Its Total Reserves to 480 Tons, Now 20% of Its Foreign Exchange Holdings. China, Turkey, Jordan, and Qatar ALSO INCREASED THEIR HOLDINGS.
