Is PAX Gold Set for New Highs? Token Breaks $3,440 as Safe-Haven Demand Spikes

• PAXG climbed 1.77% as rising Middle East tensions drove up global demand for gold.
• Trading volume for PAX Gold jumped 194%, signaling increased investor interest.
• PAXG broke past $3,440 resistance and now targets the $3,560 to $3,600 price range.

PAX Gold (PAXG), a digital asset backed by gold, was trading at $3,447.32 at press time, reflecting a 1.77% increase in the past 24 hours. The session began with a price close to $3,394, saw a sharp spike around 4:00 a.m., and reached a peak near $3,465. Following this, it consolidated in the range of $3,440 to $3,460, suggesting robust support at the recent highs.

According to data from CoinMarketCap, the 24-hour trading volume rose by 194.24%, hitting $204.1 million, while the market cap grew to $834.65 million. The circulating and total supply were stable at 242,110 PAXG, confirming the token’s low inflationary risk. The volume-to-market cap ratio of 24.19% indicated strong liquidity. Moreover, this price pattern corresponds with the larger market direction in the physical gold markets.

PAXG is pegged 1:1 to real gold held in vaults and has increasingly drawn investor attention amid elevated market volatility. …

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