Tokenized gold trading volume has surged to over $1 billion, marking a two-year high as investors seek safe-haven assets amidst global uncertainty fueled by US President Donald Trump's import tariffs. This reflects a significant increase since March 2023, when a banking crisis caused a quick pivot to gold-backed tokens. Notably, the volume of tokenized gold has seen an increase of over 900% since Trump's first tariff announcement in January 2025. The surge is also accompanied by rising physical gold prices, which reached an all-time high of over $3,100 per ounce. Analysts suggest that while tokenized gold has become attractive for crypto investors, it is not yet a full competitor to physical gold. Instead, it serves as a diversification tool in response to ongoing market unpredictability as seen in the aftermath of previous banking crises. Overall, the growth of tokenized gold highlights the increasing interest in digital assets tied to stable commodities like gold during times of economic tension.

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