The market capitalization of tokenized gold has surged to $2.57 billion, with Tether’s XAUT and Paxos’ PAXG leading the way. XAUT saw a $437 million increase in supply to $1.3 billion, while PAXG reached a record market size of $983 million due to $141.5 million in net inflows since June. Gold is currently trading at around $3,470, just below its April peak, driven by a steepening U.S. Treasury yield curve. This surge in gold prices is attributed to its status as a safe haven asset during times of uncertainty.

Read more at Yahoo Finance: Tokenized Gold Market Tops $2.5B as the Precious Metal Nears Record Highs