Gold-backed cryptocurrencies like Tether Gold (XAUT) and Paxos Gold (PAXG) have surged approximately 7% over the past month as investors gravitate towards safe-haven assets amid global economic uncertainty. Both cryptocurrencies reached all-time highs on April 22, with Tether Gold peaking at $3,529 and Paxos Gold at $3,520. Other gold-backed tokens such as Quorium (QGOLD) and Kinesis Gold (KAU) also saw substantial increases. The uptick follows escalated trade tensions after U.S. tariffs announced on April 2, which coincided with a rise in gold prices from $3,115 to $3,335 per ounce within a month. The demand for XAUT is reportedly driven by macroeconomic factors, including geopolitical conflicts and a push for inflation-resistant investments. Additionally, the tokenization market of real-world assets (RWA) has grown significantly, exemplified by Tether Gold and Paxos Gold, which are backed by physical gold. These gold-backed tokens offer advantages such as instant settlement and greater liquidity compared to traditional investment instruments.

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