Gold-Backed Cryptos Surge As Israel-Iran Tensions Ignite Safe-Haven Rush — Coins Linked To Tether, PAX Top 30% YTD, Outshine Bitcoin
Gold and its cryptocurrency derivatives surged Thursday night as investors sought refuge in the safe haven following Israel's strikes on Iran.
What happened: Spot gold was up 1.20% to $3,427.51 per ounce as of this writing, its highest level in more than a month. Gold futures on the Commodity Exchange were up 1.63% to $3,457.70.
The latest spike extended the yellow metal's year-to-date gains past 30%.
The gains flowed down to physical gold-backed cryptocurrencies, causing similar increases in Tether Gold and PAX Gold.
The two coins also extended their year-to-date gains past 30%, becoming one of the most valuable cryptocurrency investments in 2025.
Cryptocurrency
Gains +/-
YTD Gains +/-
Price (Recorded at 11:30 p.m. ET)
Pax Gold (CRYPTO: PAX)
+1.98%
+31.46%
$3,435.82
Tether Gold (CRYPTO: XAUT)
+1.95%
+30.95%
$3,456.47
See Also: Forget Dollars: Willy Woo Says Bitcoin Will Be Priced Against Global GDP — ‘Gold Used To Be That Money, BTC Is The Challenger’
These returns contrasted with the drop in heavyweights like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), which were down 3.38% and 8.91%, respectively, as of this writing.
Renowned gold bug Peter Schiff contrasted gold's rise with Bitcoin's decline, calling into question the apex cryptocurrency’s widely touted safe-haven narrative.
"How can anyone consider Bitcoin to be a digital version of gold?," he asked.
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