PAX Gold price today, live and explained

What the live numbers mean

The strip below loads in your browser. It shows the latest PAXG price, the 24-hour change, market cap, 24-hour trading volume and circulating supply. When a spot gold quote is available, a second row adds the XAU/USD spot price and the PAXG premium or discount against it.

Read the numbers in pairs. The price and the spot gold figure tell you whether PAXG is running a little rich or a little cheap against bullion right now. The 24-hour change mostly mirrors what gold did over the same period, because one PAXG is one fine troy ounce of a London Good Delivery bar. If PAXG moves 1% and gold moves 1%, nothing unusual is going on.

Volume and market cap answer different questions. Market cap tells you how much gold sits behind all tokens in circulation. Volume tells you how actively the token changes hands across exchanges. A large volume day with little price change usually means traders are moving in and out without any drama in gold itself. Supply only changes when Paxos Trust Company, N.A. mints new tokens for customers or burns tokens they redeem, so it moves slowly.

PAXG price chart

The chart starts on 30 days. You can switch to 24 hours, 7 days, 90 days or one year. Hover or tap to read a single point; the high, low and change for the selected period sit underneath.

On short time frames you will see the weekend pattern described below: two days of small, choppy moves while traditional gold markets are shut, followed by a jump or dip near the Monday open in Asia. On the one-year view the line is, in effect, a gold chart. If you want to compare PAXG with bullion, ETFs and XAU/USD in more depth, see PAXG vs physical gold and XAU/USD.

Why PAXG trades above or below spot gold

PAXG is not pegged by an algorithm. It is a claim on real gold that trades on open markets, so it can drift a little from the spot price. The drift is usually tiny. The LlamaRisk assessment published on Aave’s governance forum on 19 August 2026 looked at 470 observations and found a median premium of +0.08%, with 97.7% of days inside ±1%. The widest readings were −1.05% and +2.00%. No depeg event was reported.

Three things create the gap. The first is the calendar. Spot gold trading largely pauses from Friday evening to Sunday evening (New York time), while PAXG trades 24/7. If news breaks on a Saturday, PAXG reacts and the spot reference does not, so the displayed premium can look large until gold reopens. The second is liquidity. A thin order book on a smaller exchange can print a price that is off by a few tenths of a percent, especially in local fiat pairs. The third is friction: exchange fees, withdrawal times and the steps needed to mint or redeem with Paxos all cost money, so traders only close a gap once it is wider than their costs.

Is a premium a reason to wait, or a discount a reason to buy? For a long-term holder, a gap of 0.1% or 0.2% is smaller than a typical trading fee, so it rarely matters. It matters more for large orders and for traders working the weekend gap, which we cover in our PAXG trading guide.

How the PAXG price is formed

The price is set by buyers and sellers on exchanges such as Binance, Coinbase and Kraken. What keeps it close to gold is arbitrage through Paxos. Verified Paxos customers can create new PAXG by paying dollars, and Paxos buys and allocates the matching gold. They can also redeem PAXG for dollars "at current gold market prices at any time", in the words of the Paxos product page.

That gives professional traders a simple loop. If PAXG trades well above gold, they create tokens at the gold price and sell them on exchanges. If PAXG trades well below gold, they buy tokens on exchanges and redeem them. Both actions push the market price back toward spot. The cost of the loop sets how wide the gap can get. As of October 2026 creation fees are waived until 1 January 2027, and redemption to dollars costs 0.125% on the first $2 million of 30-day net redemptions, rising in bands up to 0.50%. The full schedule is on our redemption and fees page.

Those Paxos fees apply only to direct creation and redemption. They do not apply when you buy or sell on an exchange order book. Most retail buyers never deal with Paxos directly, but they benefit from the traders who do. And the loop only works because the gold is really there; how the vaulting and monthly KPMG attestations work is explained in how PAXG is backed by physical gold.

PAXG/USDT vs PAXG/USD

Most PAXG trading happens against Tether’s USDT stablecoin. Binance’s PAXG/USDT book is the deepest single market, and OKX, KuCoin, Gate, Bitget and CEX.IO all list PAXG/USDT too. Real US-dollar pairs exist on Coinbase, Kraken, Gemini and Crypto.com Exchange. The two prices are almost identical, but USDT is not literally a dollar. If USDT trades at 0.999 dollars, PAXG/USDT will show a slightly higher number than PAXG/USD for the same gold.

The price at the top of this page is CoinGecko’s aggregated dollar price when it is available. It blends many markets, so it is a fair reference but not a price you can trade at. When you place an order, the only price that counts is the one on your exchange’s order book, plus its fee. For a side-by-side of venues, see our list of exchanges that trade PAXG.

All-time high and the 2026 gold run

CoinGecko records an all-time high of $5,619.09 for PAXG. Its coin page gives no date for it. CoinGecko’s data feed ties it to 28 January 2026, and that fits the gold market. The LBMA AM gold price reached about $5,501.70 on 29 January 2026, according to secondary reports citing the LBMA, with intraday peaks of around $5,590 to $5,608 reported on 28 and 29 January. We could not confirm the exact LBMA figure on lbma.org.uk itself.

A PAXG high a little above the benchmark is normal. The LBMA price is fixed twice a day, while PAXG trades through every intraday spike. After the peak, gold pulled back hard. Secondary sources put the LBMA low at about $3,978 to $3,995 in late June and on 1 July 2026, roughly 27% below the January record. In its Q2 2026 report of 30 July, the World Gold Council said the price had "eased from the record highs" while central banks bought 289 tonnes net, the strongest second quarter on record.

What comes next for gold is a forecasting question, not a price-data one. We collect what banks and the World Gold Council expect on our PAX Gold price prediction page.

PAX Gold market cap and supply

Market cap is the price times circulating supply. Because one token is one ounce, PAXG’s market cap is roughly the dollar value of all the gold Paxos holds for token holders. On 12 October 2026 CoinGecko showed a market cap of about $1.833 billion, rank 57, with 24-hour volume of about $136.3 million and about 439,436 PAXG circulating across chains. Etherscan showed 88,522 holder addresses on the same day. For comparison, Tether Gold (XAUT) had a market cap of about $3.373 billion on CoinGecko that day; the full comparison is on PAXG vs XAUT.

Supply tells a more interesting story than price. It rose with the gold rally into early 2026 and then fell as holders redeemed into strength.

1. Sep 2019PAXG launches on Ethereum

   Paxos starts issuing one token per fine troy ounce of London Good Delivery gold.

2. 2025Gold sets 53 LBMA records

   The World Gold Council counts 53 all-time highs in the LBMA price; the Q4 2025 average is a record $4,135/oz.

3. Jan 2026Gold peaks near $5,500

   The LBMA AM price reaches about $5,501.70 on 29 January (secondary reports). CoinGecko’s PAXG all-time high of $5,619.09 sits in the same window.

4. Apr 2026Supply peaks at about 514,000 PAXG

   Per the LlamaRisk review for Aave, published August 2026.

5. 30 Jun 2026Attestation: 452,355 PAXG

   The June attestation shows 452,355 tokens against 452,355 fine troy ounces, no surplus or deficit.

6. 12 Oct 2026About 436,421 PAXG on Ethereum

   Read directly from the contract. CoinGecko counts about 439,436 across all chains, including Solana.

Falling supply with a high price is not a warning sign by itself. It means some holders took profits by redeeming rather than selling on exchanges. Each redeemed token removes an ounce from the Paxos reserve and the token count at the same time, so the backing stays one-to-one. You can check supply yourself on Etherscan; our contract address guide shows how to verify you are looking at the real PAXG contract.

PAXG price in your currency

The live widgets can show the PAXG price in euros, Turkish lira, Thai baht, Vietnamese dong, Indonesian rupiah, Polish złoty, Brazilian reais, New Taiwan dollars, Korean won and Indian rupees. Those values are CoinGecko conversions of the global price, not quotes from a local exchange. Local order books can sit above or below them. Thin markets in local currency, capital controls and local tax rules all play a part.

If you think in grams, tola, baht-weight or chỉ rather than ounces, use the PAXG gold calculator. It converts any amount of PAXG into local gold units and your currency at the live price. For buying routes, local pairs and tax, our country guides go deeper: PAX Gold in India covers PAXG/INR and the 30% tax plus 1% TDS, PAX Gold in Turkey covers PAXG/TRY, and PAX Gold in South Korea explains why won prices can carry their own premium. All ten are listed on the countries hub.

Where our prices come from

This site has no price server. Every number in the live strip, ticket and chart is fetched by your own browser from public APIs and cached for a short time in session storage. The main source is the keyless CoinGecko API, which provides the price in 11 currencies, market cap, volume and 24-hour change. If CoinGecko does not answer, the page tries Binance’s public data mirror for PAXG/USDT, then Coinbase, then Kraken, and converts currencies with daily exchange rates. Spot gold comes from gold-api.com.

The widgets hide themselves on purpose. A PAXG quote older than 30 minutes is not shown as live. Chart data more than six hours old is dropped. Spot gold may be up to about three and a half days old to cover weekends, but its timestamp always appears next to it. CoinGecko’s free tier also limits requests per visitor, and a blocked request looks like a network error to the browser. If you see no widget, wait a minute and reload, or check CoinGecko’s PAXG page directly. Our editorial policy explains why we never print a price in the article text as if it were current.